What started out looking like a trend day to the upside in stocks (top chart) faded out, as the dollar strengthened vs the euro (bottom chart) and Aussie dollar and commodities beat a hasty retreat.
Interestingly, however, we still have over 1500 more advancing stocks than decliners, as we remain above Friday's close. The reversal sets us up in a wide range between today's high and Friday's lows: a range that may hold if trading slows down during this holiday week.
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