Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
While the indexes are down materially it is not a -2% type of day which you’d think it was from the breadth measures. This is the worst day since April 15th, and the second worst of the entire rally from mid November. This is probably due to a lot of areas that are normally safe havens (which usually rally a bit or at least hang in relatively well on a big down day) getting crushed. The indexes are not telling the tale.
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