The Market Is In A Tug-O-War The Likes Of Which Hasn't Been Seen In Three Decades

This is an interesting little nugget from Dan Greenhaus at BTIG, who wrote this last night.:

You could be forgiven for having missed it, but something occurred today that hasn’t happened since the very early 1980s; the S&P 500 changed direction from the preceding day in the eleventh consecutive sessions. Now, this might not mean much, and we assume it doesn’t, but it does underscore the give-and-take manner in which the market has digested recent news. Cyprus bad, Cyprus good. Sequester bad, sequester good. Earnings good (DRI, GIS), earnings bad (ORCL, FDX and now FFIV).

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