Subject: Re: A change in market direction
Just my perception. It was ridiculously overbought ergo, you know it's got to retrench and catch its breath a bit. People like seeing patterns even where there aren't any. So, all the serious intonations of interest rates/Fed mistakes/ whatever else I might have missed. You can't tell me that just now today, because somebody talked to "the spirits" and decided The Fed is 60-90 days late with a 1/4 point rate cut it's "too late" and therefor the market and the economy are in uncharted waters and unprecidented times and...... you all know the drill. And it's Summer. Aug/Sept. What better months to drop a load and scare people? It all looks too pat. Too contrived.

It was overbought.