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August 8, 2011

Equity Pain

It seems the loss of the 75WMA on a closing basis was prescient. The underlying weakness in the equity market was laid bare today by a devastating extension of what is now an 11-day, 17% crash. From the point that QE2 was first made public last September to the point the monetary spigots went dry... a 10-month span... the S&P 500 tacked on 320 points. It has taken only two weeks to erase ...

 

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