The stock market has dropped in panic selling in the last two days and is approaching the support level (see FUSEX chart below). Our best hope is that short sellers will cover their positions ahead of the weekend, which will lead the market higher while reinforcing the support level.
The selling of equities today was ferocious, reminiscent of the worst days of 2008. Energy services stocks got hit especially hard (see FSESX below). This was part of the global sell-off of commodity-related investments (see FFGCX below).
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