The 20’s support today’s drop
Index & Sector performance 12/8/14 The Market: The S&P opened lower but like every other recent micro pullback it found a bottom and started to rally higher. The market again looked like it wouldn’t be denied a higher close but then after the initial morning pop the indices started to roll and continued lower until roughly 2pm ET when they found a bottom for the session and moved off the lows into the close. The lows on the S&P 500 (SPY) and NASDAQ (QQQ) correspond with the 20 day SMA and we will be looking to see if those lows…
Icahn comments spark late day sell off
Index & Sector performance 11/18/13 The Market: It was a fairly quiet day in the markets until a comment from Carl Icahn appears to have started a late day sell off after noting that he could see the markets have a “big drop”. This sent the S&P 500 down roughly 12 points in the final hour of trading In economic date the NAHB Housing Market Index fell slightly short of estimates posting a 54 when 56 was expected. Today also some a mix of Fed speak and that continues tomorrow including Fed Chairman Bernanke at 7pm EST and President Obama…