Today was a correction day. Whether it was correcting new bull markets in stocks, the precious metals, and the energy sector, or correcting the upward corrections within ongoing bear markets -- that remains to be seen. In any case, stocks, energy markets and the precious metals all traded lower today.
US stocks are dealing with the battleground between bullishness and bearishness that is represented by the major indices' 200-day moving average, which came within reach recently. For oil, it's a matter of the short-squeeze (traders who bet that energy markets would keep going down, but got caught by the strength of oil's rally) having run its course. For the precious metals, it's mostly a question of running out of steam after a weeks-long, virtually non-stop rally in gold and the mining shares.
World stock markets were mostly lower today, down an average of about 0.7%. US markets finished near the day's lows, down ... Log in or subscribe to continue reading.