The reason that my model turned to very bearish is the intra day market monitor picked up some signals for last two days,... Hmm turned out it's BSC.
QQQQ Opened up +0.33 on CPI data. Now it's down 1 EW YORK (AP) -- Stocks fell sharply Friday as investors digested a plan to alleviate a liquidity crisis at Bear Stearns Cos. that has touched off concerns about the severity of credit troubles. Each of the major indexes lost more than 1 percent; the Dow Jones industrial average gave up more than 200 points. ADVERTISEMENT Investors at various times appeared both comforted by and unnerved by a plan by the New York Federal Reserve and JPMorgan Chase & Co. to provide secured funding to Bear Stearns. The move offers Bear Stearns relief from a sudden liquidity crunch that analysts quickly surmised could have felled the bond house. At the same time, Bear's position on the precipice of financial disaster seemed to leave investors shaken and spoiled some hopes that troubles in the moribund credit market are on the mend. Stocks showed moderate increases in the early going after a Labor Department report showed the Consumer Price Index remained flat for February. Wall Street has been expecting inflation would show an increase. But the gains quickly disappeared after investors learned about the severity of troubles at Bear Stearns. "The Bear Stearns news reversed the early positive sentiment from the inflation data," said Peter Cardillo, chief market economist at Avalon Partners. "There had been nervousness about Bear Stearns for some time and now the market's concerns about the company have been proven true." I