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Global growth worries are back, OMG, everybody panic!

Market now down 30 points (-0.95%). Same old song. Media tell us that it was because of global growth worries. But that has been known issue for about a year now. What we are seeing in my opinion is a simple consolidation process. We rallied hard from December 2018 lows. Impressive rally!

But there was no pullback whatsoever. That is not sustainable rally if we do not consolidate. And nothing goes up forever in a straight line.

So we may be seeing some bouncing here. From a short time frame perspective, this may look like a big move, but a drop of 1% in a day, in fact, means nothing.
 

S&P 500





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