Last wee we spoke from epic battles and the latent desire of Mr. Market to go lower. The fact that we jumped the chance of a bounce seems like a strong medium term signal. At this juncture though , still against a backdrop of a more bearish outlook, the market feels oversold and could/ should bounce from here.
The Euro got really hit hard and represents the core of our epic battle theme. What looked like a faked break down actually became one and now looks oversold. Anything can happen here.
and the VIX.
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