After 5 year treasury auction ..10 year Bond yield went UP....Higher interest rate which was unexpected did not sit well with stock market.....so we went down in a hurry......
Nothing got derailed in terms of future trend of the market...which is still UP.....
Market internals were weak as expected with declining stocks & Down volume in clear lead.....
Even VIX did a U turn & closed higher @ 32.36 UP 5.68%...
Futures are mini RED...it will be a different story before open......
Solar,Techs survived the downdraft for the most part.....
Keep an eye on overbought sectors..Oil,Solar comes to mind......always have a selling strategy & never fight for the last $$......
Also have a buying strategy...days like today gives you good entry point ......
BLOG does NOT give buy or sell.
Saleem
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