The S&P has broke the 740 level as I expected. We are currently trading at 735 on the S&P. The market has been flagging and it is very bearish sign for the past few weeks now. Just be careful trading in this range. There will be continued whipsawing for the foreseeable future.
“With no positive quarter on the horizon, we are smack dam in the middle of what will be remembered as one of the worst recessions of the last 100 years,” said Dan Greenhaus, an analyst with the Equity Strategy Group, Miller Tabak & Co.
