Breakdown in Semis, Financials, Retailing a temporary negative to stabilization efforts

The selloff took a turn for the worse with Monday’s breakdown to new multi-day lows for SPX, DJIA and QQQ.   Nine of 11 major S&P Sectors fell more than 1% on the day, while four sectors, Financials, Industrials, Discretionary, and Technology dropped more than 3%.  While the trend over the last week had been largely more sideways than bearish, Monday’s drop undercut SPX 4250, turning trends more negative.  While I expec...

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