Tuesday, May 4, 2010

Support Broken

We are in a freefall after critical support at 1177 and 1170 was broken.  The sovereign debt fears in Europe are lingering, and the Spain equity market got crushed, taking down Europe with it.  It looks like the market is hell bent on getting to 1150 as quickly as possible.  I expect us to trend down the rest of the day, probably going to 1160. 

1 comment:

Anonymous said...

Like I've posted I'm waited for a close below 1169. For confirmation.