We had a pretty big down day on Thursday.
MDM still green, but that can change if we have more downside action.
Market Snapshot indicates a stalemate between the bulls and bears.
News out of the European Summit was not received well by the market. There is a feeling that Europeans are going to merely adopt an austerity program and not use any quantitative easy to stimulate their economy. Also, there was an effort to put a financial transaction tax in place; the UK objected strongly to this proposal and rightly so.
If today's expected bounce is sold off this rally will be in trouble. I will more than likely begin reducing our risk exposure if that is the case.
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