Updated from March 6 to correct first name of American Eagle CEO.
The major U.S. equity indices finally suffered through a good old-fashioned sell-off on Tuesday, the first one of 2012. The reasons behind the rush for the exits again were rather vague. A recession for Europe has long been in the mix for market prognosticators, and the idea that everything was going to go smoothly with Greece when nothing has since the country entered this bailout phase was pure fantasy.
What's more interesting is that the bulls blinked for the first time since this rally began in earnest. Wednesday's session could shape up to be a real test, and at least one trading veteran thinks more pain lies ahead."
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