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This is from last Friday and I don’t really think that this weeks one single day of losses are enough to work off that sort of an overbought condition.
In fact, talk about a Santa rally, we’ve only had 2 down days this entire month for the S&P and the Nasdaq. The Dow is a little weaker in terms of down days, which it has 4, however I believe the Dow has outperformed the other 2 indexes for the month.
