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Last weekend, in my Market Forecast , I wrote, " For the new week, on Monday morning, we'll get the latest ISM and construction spending data. For both SPX and Nasdaq, the daily MAs of are moving into a new bullish phase. To break higher, SPX will have to break above 1120 . For Nasdaq, the resistance...

Last night, in my article , I said, " We should see some bounces tomorrow. But, with this sharp downward momentum, we should see a bit more selling before Friday ." Indeed, the market was slightly up for most of the day, but, sank to close in the red just before the close. But, instead of chasing...

Last weekend, in my Market Forecast , I wrote: " For the new week, after trying hard, but unsuccessfully, to break away from the recent resistance levels ( SPX 1000 ; Nasdaq 2000 ), the market technicals are showing slight weakness. The MACD on both SPX and Nasdaq have turned lower. Nasdaq closed...

Finally, the market gets a down day. But, there were still plenty of winners. Financials charged up higher today. XLF (financial ETF) added +3.45%, closing above $14! SKF (financial ultrashort ETF) closed at a new low, below $30, at $29.29. AIG was the big story in the sector, jumping +62.72% on the...