EDIT 2:35 PM - nevermind, it was not a fat finger - Spain was downgraded. Now all the suddenly people respect the assessment of the rating agencies... hah.

On the flip side it is encouraging to see the 200 day moving average - the strongest one of the bunch - actually mean something & not be sliced through as if it does not exist. It is almost a tease of days of old. If 1094 cannot hold that huge range from 1040 to 1094 is back into play. Well as long as we don't gap up Tuesday morning back over 1094!
EDIT 2:50 PM - ignore this post, right back to S&P 1095. Spain only mattered for 2 hours. Yawn.
I remain mostly in observation mode until the market stops rallying or cascading down 1% in 10-12 minute increments.

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