The market carpet was mostly red on Wednesday with pockets of deep red in the finance and energy sectors. The utilities sector held up the best as the average stock fell 30 cents. There were some isolated pockets of strength in the consumer discretionary as ANF and KSS bucked the market.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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