Market breadth was so excessively weak following Friday's sell-off, that even without the events in Europe, we would have expected a bounce in the near-term. Development in Europe accelerated that bounce in a convincing way. We expect the market to retrace a portion of this rise before moving higher.
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- Robert Palmerton, CMT
- Bob Palmerton founded Baseline Analytics in October, 2005. Bob received his MBA in Finance from the University of Michigan, a BA in Economics summa cum laude at Fordham University in New York, and is a Member of the Market Technician’s Association (MTA) in New York City, where he was awarded the Chartered Market Technician (CMT) designation. Bob is also a member of the Technical Securities Analysts Association (TSAA) and the Detroit Metastock User's Group. In 2010, Mr. Palmerton co-founded The Absolute Return, LLC., an investment advisor registered in multiple states, offering investors a choice of several "absolute return" portfolios.
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