Thu May 24, 2010 (3.15pm):
DJI: -131.73(-1.29%)
SPX: -15.49 (-0.69%)
I was away from the markets today. Pre-open futures were low and popular news services were hawking "major selloff" earlier on in the day. Market traded sideways most of the day, lacking direction. Hit the low and bounced off it. Still keeping above the support level of 1066 on the SPX, IWM makes for a clear bounce of its low of 62.89 (its 200 SMA). In the short term I'm leaning towards a upward move in the broader market although there is no saying which corner spews some bad news, the market is not very confident. Once again we had a large sell off in the last 10 mins, something to watch out for.
No comments:
Post a Comment