21 August 2012

SP 500 and NDX Futures Daily Charts



Stocks ran up to resistance around 1425, and then the buying seemed to fall apart for no reason.

Stocks gave up all their gains and ended the day with a slight loss.

For now this is just a pullback since stocks did not violate any key support.

After the bell Dell cut its forecasts. Even though the company is troubled, the economy is certainly not robust in the states.