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E-Mini S&P 500: Self-fulfilling prophecies?
Goldman Sachs talked and the market listened! No, this isn’t a commercial. News coming out on the wires last evening and this morning spoke of Goldman Sachs telling their investors to take profits particularly on Gold and the Crude Oil. What was difficult to figure out was if the market started the move down or the word from Goldman. Yes, the prices were overextended! The price of Crude Oil up around $110.00 did not make sense since we import the majority of our Crude Oil from Canada and Mexico. This market was fragile and just a signal from one of the largest wire houses caused the avalanche in the commodities sector.