A choppy day in the market, as Fannie Mae and Freddie Mac took huge hits today on concerns of a government bailout. Yet the major indexes managed to close higher, and with volume higher than Tuesdays. This could actually be considered a sign of strength in the market.
There were no triggers from the Watchlist, but […]
Today was another big down day in the market on heavier volume than Monday. The market felt pressure from the Financial sector, and a bounce in oil, which I mentioned to watch for in Sundays post. The action today caused IBD to change their Market Outlook from “Confirmed Rally” to “Rally Under Pressure”.
The S&P 500 […]
The major indexes closed significantly lower today due to continued bad news in the Financial sector. Last night I mentioned that the S&P 500 and the Dow are showing bearish wedge patterns that will mean much lower prices should they break down. At market close, they are now sitting at or just below support.
Another move […]
