Tuesday, November 8, 2011

Market Goes Vertical After News Report Berlusconi to Resign

We just lifted about 7 S&P points on a news report Italian PM Berlusconi will resign ....

 will resign after passing of new financial stability laws, senior officials tell FT

Apparently all of Italy's problems stem from this one man - at least that is how the market is acting....

The 200 day simple moving average is right above at 1272....which is essentially where the market topped out earlier in the session, we are near it again.

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