"A new, invisible and at times virtual, tyranny is established, one which unilaterally and irremediably imposes its own laws and rules. Moreover, indebtedness and credit distance countries from their real economy and citizens from their real buying power. Added to this, as if it were needed, is widespread corruption and selfish fiscal evasion which have taken on worldwide dimensions. The will to power and of possession has become limitless."
Francis I, 16 May 2013
16 November 2010
SP 500 and NDX December Futures Daily Charts
This is important support and if the market will find a bottom this is about where it will be.
At the least I think the stock decline may take a pause for the GM IPO. The Street and the government have a vested interest in its success.