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Monday, February 3, 2014

Market Thought...10am

Poor US manufacturing data apparently sparked a deeper market sell off. Naturally the 10yr yield came in.

But the Yen kept its rally going too, at 10am.

The weakness started Prior to 10am as the Nikkie started to show structural weakness.

The US ISM and construction data seemed like a nice catalyst for a sell off but not the real reason.

The SP500 has come in some 5-6%, and the Vix is at a year high. I would like to think the market is at an attractive entry point, but the weekly suggests there is a potential that the 62 sma can be achieved. 

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