The song “Walk like an Egyptian” became a number one hit back in 1986 (see video here) Should investors “walk away” from stocks due to the turmoil in Egypt?
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These patterns create reasons to be concerned, yet at this time (Monday morning), key support in the Nasdaq 100 and the 500 remains in place. Does one day make a trend? NO! If long, tight stops right below support should be in place!!!
The pre-market decline in the metals might reflect that the markets aren’t too concerned at this moment in time. I will keep posts coming due to the situation at hand.