Market intraday reversal from noted 48.68 S, and strong bounce at 3 pm into close. Markets have shown an initial TL support violation at LOD. A lot of market manipulation and motivation to hold up markets to help 2008 election sentiment; however, market actions have negatively impacted american sentiment as we can see multidecade low sentiment.
Fundamentally bearish, no confirmation of noted market pull back yet to targets Qs 46.50, SPX 1330, DOW 12000 +/-. Markets are in sym triangle formations.
Market Summary: Lehman Bros. denies it's in deep trouble, but stocks overall finish lower as investors show little confidence in financials. Fed boss Bernanke signals rate cuts are done for now. Auto sales are weak. Carl Icahn vows to oust Yahoo's Jerry Yang.
No comments:
Post a Comment