Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Can’t put lipstick on this pig. Certainly not a moderate, contained selloff/consolidation that bulls were hoping for. This was one of those “everything must go” days that frustrate stock pickers to no end. Worse a lot of the leadership stocks got punched in the gut and many of those breakouts that had been holding up are now kaput.
The entire 38.2% retrace was reached essentially in 1 session which demonstrates how vicious of a selloff it was. Not encouraging.
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