Last week I mentioned that a pullback was due, and indeed we’ve seen some market weakness this week. The 50-day simple moving average is trying to support the large, mid, and small caps at this point, but the Dow Industrials and MSCI Emerging Markets are holding up better as they are supported by their 20-day. Among the major sectors, Healthcare has actually displayed strength this week despite overall market weakness.
Today’s trading began amidst a multitude of unpleasant factors.