12 July 2010

SP 500 September Futures Daily Chart


Flat on light volumes, jammed into short term overhead resistance, ahead of earnings season which starts in the US today.

There has been little or no mention of the China downgrade of US debt on Bloomberg television today, which has been a cheerleading session for equities. Their overall presentation at least during US trading hours is best described as 'frivilous with a dully pendantic corporate flavor.'