Once the bearish ball got rolling last week, it got rolling in spades. In retrospect, however, the pullback makes sense in terms of when, where, and why. The S&P 500 (SPX) (SPY) as well as the NASDAQ Composite (COMP) both bumped into major technical ceilings, and right on cue, began a retreat that likely isn't over yet.
We'll dissect the breakdown below, as always. First though, we need to run down last week's and this week's key economic numbers.
Though a light week in terms of[...]