Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Until late May every correction of 2013 has been of the 2.5-3.5% variety. That was just about where we had been the middle of last week before an oversold bounce. The question at that point is always – is this the beginning of a “V” shaped bounce now made famous since 2009 in QE markets, or it is the old school oversold bounce that used to be prevalent pre 2009. With the saber rattling in the Middle East it appears for now the V shape is going to be off the table.
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