S&P 500 – 10-11-2007
October 11, 2007 at 7:08 pm · Filed Under Broader Market
1560? Nope. Today’s late selloff was definitely not the sign of strength the bulls were looking for. We’ve been due for a healthy correction, although the volume did pick up a bit so it does raise a couple warning flags. I think 1540 will be tested again soon, so we’ll see how that one holds up. I would look for the early trading session to continue the downtrend that started at the end of the day, but we’ll see who wins the power struggle from there. Downward pressure definitely warrants some action with bearish positions.
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