Before I get into what we need to think about this week for the stock market I want you to go back to last weekend and imagine what you heard people saying on television about the stock market. Did you hear negative talk or positive talk? What I heard was a lot of people talking about a big correction coming. People saying the economy is going to continue to slide, the stock market has gone up too much, and even some Elliott Wavers calling for a Fall stock market crash.
The market had pulled back off of its high the week before and fell hard on Monday and that seemed to confirm everyone's worries. Most people either are worried about losing the big gains they've seen the market make since March or are just too afraid to get back into the stock market after last year's big collapse. Data from the largest online brokers shows that the average investor is trading less since the March lows. That means that many people with online accounts must have sold out at some point after the March bottom.
http://www.wallstreetwindow.com/content/node/11442
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