Playing with the 200 Day Average
The Big Spill
After the big spill of the past few days we will probably see a little consolidation above the 200 day average and some trading in the 2850 to 2940 area of the S&P. Two days of closes under the 2850 area will however set the stage for the next leg down to 2600 area.
Market is all Technical Now
After months of the Administration trashing the manufacturing economy we are going to see the chickens come home to roost. The consumer has tried to ignore things, continuing to buy stuff they don’t need, like new pickups and phones, but the message will eventually set in for them.