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That is Mike Santoli’s every day pocket book, CNBC’s main market commentator, with concepts on tendencies, shares, and market stats.
(This story is for CNBC Professional subscribers simply.)
- Slop and chop in a heavy band considerably influenced by choices / futures expiry schemes. The indices fell near, however not but, to their lowest ranges because the starting of the month. Tech nonetheless finds sellers at rallies.
- Bulls watching the S&P acquire a foothold a number of occasions on this 3310-3330 space the place we closed on Aug 11 initially of the final wild upward dash. Bears see damaged management and a market that’s smooth however not but largely oversold. Nonetheless high-quality in “regular pullback / correction” mode, however even on condition that it’s tough to impede the path of the subsequent 5%.