S&P 500 – 10-17-2007
October 17, 2007 at 1:34 pm · Filed Under Broader Market
The market started high in light of the good news yesterday after hours, but lost its gains after noon. There was actually a little bit of strength at the end of the day, which allowed the market to close right around even. Nothing would please me more than forming a long base here (with support at 1540), since in the present state, a drop could easily send us right back down to the low 1400′s again. There should be some excitement after hours tomorrow when Google (GOOG) either confirms Yahoo’s (YHOO) assessment that the sliding economy hasn’t affected the online advertising economy yet, or states that their ad revenue is feeling some pain.
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