Editor's Note

Tuesday's market decline was material but not unusual. After a week of gains with the Dow rising 1.9% and the Nasdaq 2.7% it is not unusual to see a material decline. The only question is the length of the decline. Will it be a one-day wonder, a 3-day mini correction of 1% or a 5-7 day correction of 2-3%. With earnings starting with the banks on Friday, I doubt it will be a big decline. I suspect this was just a consolidation pause but we need to watch carefully for the rest of the week.

 

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