Here’s a quick look around the world and, no surprise, fear and selling are endemic. The surprise is that EWJ ended up the % Change winner for the day, but it sure didn’t start out that way as EWJ plunged dramatically at the open. We’re seeing some serious oversold conditions not only in many of the countries but also in the BZB Market Rotator model. Big POMO on Wed and Thurs and small POMO on Friday may turn the red tide and it will be instructive to see what sectors lead the pack up. In today’s case it was XLB although we saw a wide ranging pullback into the close that may carry over into Wednesday’s open. Threats of atmospheric radiation descending on the West coast are causing a brisk sale in radiation protection gear and medications. Hope it doesn’t rain on my trader buddies in the Northwest, which will bring it down.
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