18 August 2010

SP 500 and NDX September Futures Daily Charts

Stocks were pushed higher for much of the day.

The GM IPO was announced and stocks faded into the close losing even more ground after the 4 PM cash trade cutoff. As you know the futures trade until 4:15 PM.

It is too soon to attribute anything to this one way or the other, except for another failure at the test of overhead resistance, but no breakdown below key support and the key Pivot.

SP 500