Today we had an upside reversal on good volume in Nasdaq and Russell. Dow and S&P closed a bit lower with small losses. What is worth noting is that in spite of all doom and gloom around us we had not set a lower low. 200dma is holding for now and the bulls are hoping it won't break. The market likes to surprise and a new trend often emerges when the majority least expect it, so it is worth staying alert and watchful for clues left by leading stocks and major indices.
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