I just cautioned markets were much overbought yesterday and, wham!, down we go. Some thought and complained this was a "relative term." Now we all have some annoying relatives but I guess yesterday’s market action was what I was cautioning about 'relatively' speaking.

Officials have been saying the economy had hit a “soft patch” and like our penguin friend above, Thursday’s data and news highlighted the troubles.

Market volume remains heavy while breadth was as negative as you’d expect.






Our friends at the Fed tossed in another $19 billion to primary dealers Da Boyz yesterday.

click to enlarge

The above are the dominant market sectors from an investor focus but there are others of interest naturally.
























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