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We’re Not Done Yet

S&P 500

Creeping deterioration gave way to early selling that took S&P 500 to 4,515, but no further. The bears fumbled again, and credit markets don‘t look like giving them another opportunity (judging by yesterday‘s close). VIX barely moved higher, and the shape of daily sectoral rotations doesn‘t favor a larger decline. Some meandering sideways to up […]

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