sp'60min
Summary
For the bears, it was the first down day since last Tuesday - when the SP' closed at 1698. Yet, the declines today were only moderate, and frankly, a return to sub 1700s looks very unlikely for some weeks, if not months.
With powerful - a very profitable companies like AAPL and GOOG, both closing with good gains, I find it impossible to consider today as anything other than minor weakness.
No doubt some will tout sp'1759 as a top. Frankly, I see them as mere lunatics, who should have thrown in the towel after we broke the Oct 2007 high of >1576.
Have a good evening.
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more later...on the VIX