Sellers didn't get their follow through yesterday. Even so, the buying was weak and not much can be made of it.
Technical conditions are eroding and the second shoe may in fact be ready to drop. The problem here is that the Fed needs to be added to the equation. All things being equal, we would say this market is in for a hurtin'. The Fed may have something to say about that.
This is why the market is such a mess here. No one wants to bet against the Fed. But even so, the buyers are on strike.
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