Off the Charts
It was an ugly day in the market, as the morning gap up was met by aggressive selling. The market trended lower for the rest of the day as it traded into the gap from the E.U. summit. The indices closed the day in the red, with the Nasdaq getting hit the hardest, closing the day down 1%.
Yesterday we took a wait-and-see approach to the market after the recent back-and-forth action, and today could well foreshadow the next leg in the market. The only morsel of good news was that the S&P 500 reclaimed the 20- and 50-day moving average with a small bounce in the last 20 minutes of trading....890 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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