S&P Futures almost hit a 78.6% retracement of the move down from 1158.70 down to 1133.20 at: 1153.20 Today's R2 is also up there as well, coming in at: 1152.25 Or maybe it is because Abbey Joseph Cohen is about to speak on CNBC . . . Ha ha!
For once I agree with waggie - it's because of Abby Joseph Cohen's appearance on CNBC. Onf of my favorite lines from that interview was when she referred to accounting reports as now "[fairly] accurate"
What difference does it make? Price hit resistance, there was a divergence, price fell to support. The "why" is irrelevant.
You are right, but after 9/11 I always have to think of some terrorist attack when the market is plunging.
"What difference does it make? Price hit resistance, there was a divergence, price fell to support. The "why" is irrelevant." Very true.
There was a rumor that Bin Laden forces had Bush boxed in just south of Washington D.C. and were getting ready to close in on him and about 50 others in his entourage. Reported in "Al Kaida Today"