Market could rally on this news: June 25 (Bloomberg) -- Bear Stearns Cos. may put up $1.6 billion to rescue one of its money-losing hedge funds, half as much as it offered last week, according to two people with knowledge of the situation.
We found a lot of support around the 50 EMA. The DAX has been holding up well and was acting as a good indicator for a while. But I think tomorrow we'll bounce a little bit, but who knows anything could happen. I love this shit.
50/50 Pay attention to the housing numbers. More economic numbers on housing tomorrow along with earnings from KBH and LEN should provide some more info on where housing is headed. Thursday is the biggest day with the fed meeting and decision at 2:15pm. Last time the fed met the market rallied. Who knows if this dip is a chance to get long ahead of the FOMC meeting or is the chance to sell. I have noticed that every past meeting has just been the same wording recycled over and over again with no change in rates and a market rally following minutes after the speech is done. Think buying this dip here may be a good opportnity to get long, dow could easily be trading back above 13500 on Thursday afternoon.