^ Thanks for that.
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Even after a week of tumult, it is difficult to pin down the causes apart from trotting out the usual, "stocks were were overvalued,
so what else would you expect?"
Technical analysts will tell you buyers moved in and supported the market when the S&P500 dipped down to its so-called
"200-day moving average" line.
* They will also tell you, if it (S&P500) breaks through that level of support, the "200-day moving average" line ... watch out — there
is a fair drop to next level of supposed support. *
(That's my concern)
"I don't see any reason to think that we're setting a pattern for next week or the rest of the year," said Rob Stein,
a Chicago-based fund manager.
"The only pattern we're setting is more volatility."
The week wiped out all the gains Wall Street made so far this year and then some, although the key indices are still
offering double-digit returns over the past 12 months.