Today's market performance seemed more logical than yesterday. The reasons for yesterday's strong rally aren't exactly clear to me. Perhaps it corrected itself from what looks like an overreaction to a transient momentum (I imagine this could happen because of auto-triggers. Economic data released today wasn't very encouraging in that consumers are expecting higher inflation and retail sales were flat. Banks' quarterly reports started coming out today and looked reasonably good but wasn't enough to stop all three major indices from finishing in deep red.
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