Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Of course within 15 minutes of writing no afternoon buyers, in came the Pavlov dogs. Thus far they have been able to get the S&P 500 within a point of the all important 1404 level but no cigar yet. While a point or two doesn’t seem like much it can have a serious impact on the assessment of those who view the market with a technical lens. The index has been bopping back and forth in the 1402-1403 area here for a while. Will be interesting to see if dip buyers push it back up in the closing moments.
As an aside this is another day when the watch lists look a lot worse than the indexes.
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