Let the Poor Action Play Out
With the ugliness of the presidential election finally behind us, some market players thought we might see relief buyers provide support. Instead the action reflected a great amount of unhappiness with the results and turned attention to the looming problem of the fiscal cliff and the deterioration of the economy in Germany.
A big part of the problem was that the market didn't have a very good technical pattern to begin with. It already had pressure from poor earnings, economic issues and the problems in Europe. The spike in the indices Tuesday didn't help to provide a favorable setup for the market to deal with the election. If it had not run up already, there was a better chance of a gap down and then a recovery....174 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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