In our CHART OF THE DAY this morning, we noted how hedge funds clearly snapped up the dip when everyone was panicking last week.
Maybe they rightly figured that the dive was nothing special.
As this chart from Oppenheimer’s technical analyst Carter Worth points out, the selloff was very similar to two previous ones since last Summer, lasting about 17 days from the high to the low.
So if fears of nuclear meltdown won’t derail this market, what will?
Maybe the end of QE?
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