Worst Day of the Year by a Long Shot « Market Montage

Thus far we are seeing a nasty reversal of Friday's gap and go, a complete 180 in fact.  As I type the market is back to where it was at Thursday's close.  That takes care of one of the four gaps I discussed this morning.  On an intraday basis the 10 day daily moving  average for the S&P 500 is broken (first time in 2013) but we'll have to see how it ends at the market close.  As for breadth – an absolute mess.  Worse than many of those days there was the panic selling on the fiscal cliff in late 2012.  On the plus side, positive is not excessive.

 

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