The market is very choppy as the 10:00am numbers were disappointing. This followed the unimpressive 8:30am claims number. Despite the weak data, we have gotten a very strong bounce off the lows. SPY went through yesterday’s low of $138.38 but held above Tuesday’s low (and the 50-day moving average) before bouncing. They sold off Bank of America (BAC), Morgan Stanely (MS) and the…
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