overbought. Internals are obviously quite negative, although the VIX remains off its a.m. highs by a hair. Nevertheless, short of a last hour miracle (which abound in this market), I do expect a somewhat lower close at this time. I likewise will be looking for support in the low to mid- SPY $109 range, which we are honing in on as this post goes "to press".
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Post from 2005: Mortgage Debt and the "Recovery"
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