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The rubber band finally snapped. The market had lulled investors into buying two day dips because we hadn't seen three down days in a row in over three months. Those that bought this week's Tuesday / Wednesday dip were dealt a dose of reality yesterday. The Dow lost 1862-points and, as for the S&P 500 which lost 188-points or nearly 6%, while dramatic, the decline really only put it where it was about 11 days ago. It felt "crashy", but it's only down to the May 27 levels.
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