Equities are trading near the flat line with oil service, biotech, metals, junk and emerging markets leading while gaming, reits, homies and trannies lagging.

NYSE internals flat while NDX/SPX a little to the red;

Gold higher and over $1,200;

10 year Treas note - rate back up to 2.97%;

The much discussed DEATH CROSS just happened as the SMA 50 is now under the SMA 200- I think more importantly the support and resistance areas:

SPX 1010 area is the level where we got a nice bounce yesterday and I suspect any time we approach that level we will bounce- of course resistance at the old support area of 1040-

Kudos to Greg Valliere- for not towing the GOP line and calling them on the carpet for not extending the unemployment benefits - bottom line it hurts the economy and puts more folks into poverty.

Its very unfortunate - but politics has turned into I just want my party to win no matter what the ramifications-


Blogger tamworth said...

There's not a limitless supply of resources. At some point the piper needs to be paid. Folks want to just keep handing it down to the next generation. I really don't care because I have no kids, but if I did I would be livid about now.

2:29 PM  
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9:25 AM  

A very steep slope.

5:03 PM  

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