In-mkt update!

When I finished the post with “More to come …” well, sheesh …

The Philly Fed was dreadful (think of the worst possible description and that was it). The recency effect gripped the psychology today (of course there were many reasons for the selling, but the impact of the recency effect should not be discounted at all). There is plenty of buying to be done now today, any further downside excursions will be much more limited in scope (famous last words LOL).

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