Here is today’s poll. You may choose multiple answers.
UPDATE: Jobless Claims – 623K vs. 582.25K previous, 510K/650K consensus.
The levels to watch are:
1) 820-840 SPX – The range has narrowed and the past two days may be setting up for a rectangular consolidation are, most likely for a bearish continuation. A gap down below 820 and a gapup above 840 need to be taken seriously.
2) 20-day MA – Currently located at 839-840, the SPX could not break out above it all day yesterday.
3) 850, 30-day MA (858) Resistance – This is in addition to the 50-day MA(867) and the upper line segment of the triangle (875ish).
4) 820-822 – This is a major level that was tested intra-day yesterday. 820 and 815 are also psychological support areas in addition to a break in the November lower trend line.
Keep these in mind for today.
5-day SPX
10-day SPX
40-day SPX
5-month SPX
I didn’t see my choice on the list.
Future Taxpayers
Ottnot,
I second that. Have you seen The Fly’s “hero” post? It’s great…I think there’s a lot of quasi-libertarians on this site.
Although I keep politics out of this. Nonetheless, it’s good to see lots of thoughtful citizens on here.
Back to banking some coin now…
Spaniard –
Yes, I’ve been to the other post.
I’m not a quasi-libertarian. Like many college-educated white males, I found libertarianism attractive when I was in my late teens and early 20s. Because I’m not interested in endless and useless debate on the topic, let’s just say that I’m leery of those who remain enthralled with libertarianism beyond their mid-to-late 20s (by staggering coincidence, that’s the age range where I drifted away from the camp).
Usually, when I agree with the libertarians and quasi-libertarians about the foolishness of something the government is doing, the libertarians are upset because the government is involved in something it should stay out of, and I’m upset because the government is doing a poor job at something we need the government to do and do well.
And for the poll, I’d say that Citigroup isn’t in the most trouble, but instead is the most trouble.
I fear that it is too big and too complex either to fail or to save. It will take a lot of pruning and whacking to get it into a position for rescue or liquidation.
I find the poll very interesting.
C and BAC take the lead, but there are plenty of $1-3 stocks on the list, such as FITB, HBAN, RF.
JPM looks to be the safest.
FITB is my vote. I am almost certain it will cashier in, fortune cookie style.
So Ottnot — you went com-, er Democrat, after college?
You are one rare bird.
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Looks like 820 was not only violated but also mauled. Now back above by 11 pts, how much technical damage was done?
CLASSIC WTF PATTERN.
NEVER DISAPPOINTS AT THE LAST HOUR.
I love this hick. He’s right, you want more consumer spending? Lower your gadam prices