Dan discussed the disappointment in the market after the relief rally last Friday which continued into Sunday night, only to fade on Monday. The VIX firmed up as the S&P 500 approached that critical support level of 1040. He sees scaled back trading as market participants wait to see if there are any changes in the economic climate as multiple new items hit the tape this week. Dan also feels the recent M&A activity is an effort to pad the bottom line, with little top line growth prospects. However, these types of mergers do little to alleviate the current job situation in the US.
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