Whether it is algos looking for a better entry point for the inevitable green close, a market reacting to Saks disappointment, or a realization (ahead of Bernanke tomorrow) that the hawkish jawboning recently is an attempt at a soft-landing is unclear. One thing is becoming clear: the Dow Jones track record of being up 19 out of 19 consecutive weekly Tuesdays is suddenly in jeopardy...
Stocks are not happy...
[3]
and bonds are selling off too (suggesting the hawkishness)...
[4]
and the USD strengthening...
[5]
Charts: Bloomberg