"'I beg you, father, send Lazarus to my family, for I have five brothers. Let him warn them, so that they will not also come to this place of torment.’ Abraham replied, ‘They have Moses and the Prophets; let them listen to them.’ No, father Abraham,’ the rich man said, ‘but if someone from the dead appears to them, they will repent.’ And Abraham said, ‘If they do not listen to Moses and the Prophets, they will not change and repent, even if someone were to rise from the dead.’”
Luke 16:27-31
10 April 2012
SP 500 and NDX Futures Daily Charts - Sharp Correction on Risk Off
The equity markets sold off sharply today on fresh jitters about the sovereign debt of Italy and Spain.
It is also quite important to remember that stocks have been very overbought short term and were ready for a correction.