Maybe it was too much to expect a strong rebound on a soft ISM services number.

In the bigger picture, stocks are still on a nine-week winning streak, so that kind overbought momentum isn’t going to be cleaned up by four days of selling. That doesn’t necessarily mean the market needs to tank from here but we might need to see a dovish validation from the Fed to get there and maybe we track a bit lower in the meantime.

This article was written by Adam Button at www.forexlive.com.