Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
The S&P 500 just came up to tag that key 1370 level and has been pushed below it on the first attempt. Again, 1340 and 1370 have continued to key levels throughout 2012 (and through 2011). Most of the action today is concentrated in the very beaten down commodities – again this continues to strike very similar to January 2012 when “on a dime” the ‘global growth’ areas saw an influx of money into them.
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