The 76% retracement S&P 500 rebound was so quick and so steep that Sterne Agee’s Carter Worth warns it “suggests that the mentality that fosters complacency and excess in the first place, remains in effect. And that means, of course, that nothing has been corrected.”
Low volume bounce squeeze “fixed nothing”…
As Bloomberg reports, Worth adds that uptrends have been broken worldwide and rebounding stocks are back to “difficult” levels where sellers may re-exert control.
Charts: Bloomberg
via Zero Hedge http://ift.tt/1swibb0 Tyler Durden