SPX update
SPX loses 1204/1206 support and we tumble down to last Tuesday's opening support 1188. Resistance was too fierce at 50% Aug/Sep (1222/1223). There are just no buyers.
ISE equity also jumped up to relatively optimistic levels. That might change soon. Doom and gloom is omnipresent as we await the next move from our legislators. I don't want to get too cynical, but it appears major market players are putting additional pressure on Congress by keeping equity markets down.
Sept. 23 (Bloomberg) -- Congressional leaders in both parties are struggling to find support among House lawmakers for a $700 billion rescue plan for troubled financial firms pushed by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke.
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on Tuesday, September 23, 2008 at 9/23/2008 04:38:00 PM.
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