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Early Observations
Today is about European debt worries so far - more specifically Italy. Spreads (CDS and yields vs. German bunds) are rising to new highs. I see Gold as the key "tell" that traders are worried here.
But, the question of the day is where will the dip buyers come in? And then, (okay, that's 2 questions) will the bears keep selling into the rallies?
Next, S&P 1280 appears to be today's line in the sand. Also watch the 200-day at 1285.93
Finally, as Curt points out, the Dow hasn't had an 8-day losing streak since October 2008.
S&P 500 - Last 3 Months
All the Best,
Dave M.
Chief Investment Strategist
Disclosure - Mr. Moenning and/or related companies own positions in the following stocks mentioned: none
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