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MARKET WRAP UP 11/23/10
We had another morning of blood on Wall Street today, as extremely negative headlines provided a bearish setting. Unlike yesterday, though, the bulls failed to pull off a late-day rally. Instead, although not at the lows, the S&P 500 closed down 1.43% to 1180. Once again, there were some impressive individual performers beneath the surface, namely in the retail/consumer discretionary space. While overall market breadth was poor, volume was meek.
Heading into Wednesday, the busiest day of the entire year for traveling, I would expect to see an overall drifting sensation in the markets. Then again, the SEC, as well as Ireland and North Korea, do not seem particularly keen on adopting the holiday spirit.
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