Both the Nasdaq and S&P Futures are down 0.4%. When combined with yesterday's late session selloff, it is likely that the downward pressure on the market will likely continue.
Everyone seems to be waiting to see what happens when QE2 comes to an end. If stocks and bonds go down, the federales are sure to come into the market one way or another too.
Mike Paulenoff's technical work on the 10-year Treasury-bond yield continues to reflect a pattern that suggests strongly a multi-month correction is ending.
A return to volume at above average levels on positive days in the market would provide further substantiation that the market may have found a bottom following the recent selling.
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