As I said on Friday, SPX 3,900 is a major support / resistance area currently. Until we can get through that threshold, we'll continue to muddle along. I'm still looking at bank stocks but waiting until we get through earnings season which kicks off on Thursday.
As the market moves down sharply this morning it's being led by the three big growth areas. As always, I'll be much more interested in the afternoon direction than this early morning's direction. Also watch the last hour.
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