Stock Market Analysis – 11-19-2008

November 19, 2008 at 10:33 pm · Filed Under Broader Market 

SPY Daily Chart

I thought today would be a last gasp bounce, but it didn’t happen.  A late surge downwards took the market below support, but the way the market’s been going, maybe it would have been up a couple percent if there were an extra 2 hours in the day.  My guess is there will be a bounce still, but it looks like it won’t hit the top line again before starting the next leg down.  Watch for the follow through tomorrow. 

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