Plus, I find when you get a consensus of the mclellans and bp's turning down from a good run like you noted, again it usually means more it downside. Then ad in you have had a very low vix, and the mclellan macds are all pegged at the high end.
Armchair quarterbacking from me...but could a psychology effect kick in now from Muni Fund manager who are afraid to lose whatever % gain they have for the year (most likely barely green) and we could see run on the bank here....?? (deeper correction then many anticipate).
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