Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
To repeat – the most violent rallies are within the context of corrections. The action of the past week is why you often see traders constantly try to catch falling knives. This is “violent”. The NYSE Oscillator which a week ago was at a rare -90 is approaching +50 intraday as I type this, so it’s done a complete 180 flip in a week’s time …. 4 sessions really. Just a reminder, fully HALF of the two month swoon will be retraced at S&P level 1409.
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