Thursday, February 24, 2011

Testing Yesterday's Lows

The S&P 500 has come in to test the lows of Wednesday; as I said this morning a break of this level would be a powerful incentive for bears.  There should be no particular reason the 1300 level holds, so I'd be surprised if we don't see further downside.  That said, I've been surprised often the past 2 years.

Monday is a day and a half way so bears need to get their work in quick. ;)  Thirteen downside points until a real support level.  That is where it should actually get quite interesting.

No position

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