spy, we traded from ledge down to ledge ,back up to bottom or ledge of the wide nip,we could trade to 28.25 ,top of nip,then retrace ,or turn here at 27.2 ledge and pull back to cleavage 24.3-22.10
FT Writes: S&P ratings warning to top euro nations Standard and Poorâs has warned Germany and the five other triple A members of the eurozone that they risk having their top-notch ratings downgraded as a result of deepening economic and political turmoil in the single currency bloc. The US ratings agency is poised to announce later on Monday that it is putting Germany, France, the Netherlands, Austria, Finland, and Luxembourg on âcreditwatch negativeâ, meaning there is a one-in-two chance of a downgrade within 90 days. http://www.ft.com/cms/s/0/7cf2e0ae-1f63-11e1-9916-00144feabdc0.html#axzz1fgfHtFZA
stopped at 1260, and reversed to short at 1259. Target 1252 at least, maybe 1240s....let us see..... S&P putting european AAA on credit negative is a biggggg news.