A decent oversold bounce finally kicked in today, but volume was light and the sell off in the final hour of trading continued. I think I read today marks the 10th consecutive day where we sold off late in the day this month. That shows a lack of conviction on the part of the bulls. Breadth was solid with about four gainers for each loser. Overall, sentiment had gotten negative and a bounce was overdue. It may continue for a few more points, but option expiration can be volatile and bears are probably eagerly waiting to reload.
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