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June 15, 2011

Nothing Doing for Stocks

It seems we got our answer regarding whether yesterday's equity strength would end up being just another one day rally. The S&P 500 got drubbed to the tune of 1.7% today, falling to a new low for its decline. The last intermediate cycle low at SPX 1249 appears to offer the last potential line of support before the bottom falls out of this market, and at only ...

 

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