Wall Street Week Ahead: Market is oversold, but major signs say “sell”

by Blogburger on May 21, 2012

The U.S. flag hangs outside the New York Stock ExchangeNEW YORK (Reuters) – Normally a big decline would set up Wall Street for a technical rebound. But that may not be the case this week, even after the market posted its worst weekly loss for the year and the S&P fell for six straight sessions. With the corporate earnings season drawing to an end and recent U.S. economic data raising doubts about the pace of growth, the S&P 500, which is down 7.3 percent so far in May, could decline further this week as concerns about the financial health of Europe persist. …



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