The market is struggling to find an identity. Although many stocks were showing promise as potential new leaders, the market has lacked follow-through.
What the Germans really want to know is whether the Greeks and Italians can act like Germans. What the Greeks and Italians want to know is when the Germans are going to stop acting like Germans.
Despite the fact that the market is clearly beginning to struggle, the type of price action being seen is not at all unusual for first thrust reversals.
The stock market indices suffered another nasty spill. Only an afternoon consolidation and late comeback prevented them from closing at the session lows.
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