No matter how long you do this, the change in behavior on a dime is always a sight to see. It used to be that markets rallied in stair step fashion (escalator) and fell quickly (elevator). Now often the elevator is the only way to go. S&P 1395 (resistance) was gapped up over, S&P 1404 (resistance) lasted all of 90 minutes, and 1409 arrived with a flourish of buying in the closing 20 minutes. The entire two month correction has been halved in half a session Friday, full sessions Mon, Tue, Wed, and half a session today. Fear the Turkey.
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