More Room to Fall

Just last Thursday, I noted that even though the S&P 500 was hitting new but not big highs, I did not like the square postings indicating overhead resistance or the overbought condition of my indicators. My comment then was "a correction is just around the corner."

The corner was, in fact, turned the following day. It is particularly noticeable that the Nasdaq had already been in a slide for nearly a month, and it therefore emerged as the biggest debacle in the drop of Friday and the follow-through plunge on Monday. It had led the advance earlier this year, and now seems to be leading the decline....358 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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