After yesterday's selloff, today will be a interesting day as the market will need to regain momentum. If we look at historical bear markets, we see that the market "could" be forming a market top and be due for a 13% correction to the downside. This is possible; however, I remain bullish because the selloff yesterday seemed more like a panic sell than true capitulation. We have key economic data today, with housing starts and PPI at 8:30a. This data can move the markets, so let's hope the data is good.
Oil is up which is good, so let's see if AAPL can regain strength, as well as GS. If all three look strong, the market will go higher.
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