Maybe it was just a bad dream but I thought overnight futures were in the high S&P 1140s. Thankfully we have premarket.
The S&P 500 is essentially exactly where it was yesterday at this time... yesterday there was a quick burst over S&P 1165 to 1170 and one thought "here we go again" as the 'V' shape bounce was on. Then a (now rare) intraday reversal occurred. But here we are again... the 50 day moving average is now near 1167 and the 20 day has moved down from 1175 to 1173. So the spring is getting wound more tightly and it won't take much to have the index close above where it "needs" to be to get back to business as usual.
With all risk taken away by the Bernanke Forcefield it only seems a matter of time?
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows