Market Wrap Tuesday

Good Evening,
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Macro: FHFA & Case-Shiller HPI’s both missed, Service Sector Flash PMI beat, Consumer Confidence beat, New Home Sales missed, Richmond Fed missed badly.
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1) All four major equity  indices closed lower to varying degrees on rather heavy volume.  The S&P 500 & DJIA both gave up more than one percent.  The numbers don’t really tell the story of a marketplace that saw a nice day turn into what could only be described as a pukefest.  It ain’t pretty, but it gets the message across.
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2) Safe havens were….. oh, did I mention? …there were none.  The sell -off in equities hit late, and, with such ferocity that Treasuries, Gold, even the VIX never got a chance to catch up, and also finished day in the red.
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3) Telecom, Financials, and Materials were slapped pretty hard, despite some upgrades for the banks….. however the worst beating was reserved for the Utility sector (another non-safe have) after the Exelon-Pepco merger was deep-sixed.
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4) Looking for a bright side??  Internet stocks did well today.  In fact, they almost saved the Consumer Discretionary sector….. but not quite.
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5)  On the way home tonight, I keep thinking of the kid that was always on the cover of Mad magazine.  “What me worry?”