Market Sells Off (Again)

June 22, 2010 4:42pm by Barry Ritholtz

For reasons which sound good on TV but really have nothing whatsoever to do with what happened, the markets gave up what little gains they had in the morning, ending the day off by 1.5%.

Whether you want to blame the Housing data or the Treasury Auction or FOMC meeting or the crisis in Europe, you are looking for influences of psychology.

Perhaps a better choice might be to look at where the buyers and sellers are doing battle — the SPX 1100 line has been a skirmish filled area.

New Home Sales in the morning, FOMC announcement tomorrow afternoon, GDP Friday, and a long weekend a week off in the distance . . .

Anything in the markets grabbing your attention lately . . . ?

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