US equity markets are giving back gains seen earlier in the day and now turning negative, crossing below the VWAP (1014), testing the pivot point (990) and set to possibly retest support (960) on the S&P 500 if the selling continues at this rate. This is likely because redemptions and liquidations are continuing from individuals, banks and funds. Keep an eye on 960 as that’s an important level of short term support. We are still looking for the correction in the dollar to continue.
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