- weak consumer shopping numbers hammer retailers
- market continues to drift as senate votes on debt ceiling bill
- cnbc's focus now sounding very pessimistic and all the bullish talk from earnings couple weeks ago are all gone...
- technicians even eyeing 200ema
- possible 8 straight down days
Weakest Sectors: XLF, XLI, PPH
can't believe just how weak the market was today...kept thinking a bounce and reversal would have happened today but it ever came..all day it was just selling...even with news around with the debt ceiling, investors sold off...as i kept hearing cnbc, i kept thinking just how pessimistic everyone has become...it is a total 180 from weeks ago when apple earnings was making everyone thing that we are going to the moon...now with 8 days of losses, fear is high....so we got the technical oversold, now we are getting the fear oversold, that means we might just be 1 step closer to a relief rally that surprises us all...great jobs numbers tomorrow from ADP? or will it take til friday for something to happen?
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