Deron Wagner generally does not like to use the term "oversold" because stocks in a sharp downtrend often become even more "oversold" than most people would imagine before eventually bouncing.
Stabilize public debts by 2016? By then, the US and other major economies will have more government debt than GDP. It is bound to be too late for many of them.
The stock market indices got smacked hard, particularly at the opening when they gapped down big time, dropped sharply right after the opening gap, and did try a snapback rally which failed at initial resistance. That was the best they could do all day.
After spending six weeks in a sideways, coil-type of pattern at the bottom of its August 2009-June 2010 bear phase, the Shanghai Composite has broken down into new bear-market low territory.
Bond ETFs are showing significant strength as of late. Money flowing into bonds signals that investors are shying away from risk, which is a negative sign for stocks.
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