Thursday
Jun092011
6 and counting..
Thursday, June 9, 2011 at 07:22AM Unfortunately, the trends noted all week remain in place.
There is really nothing material (except techincal below) to add as SPX YTD gains dwindle to 1.7% with a 6th consecutive down day on its way to 6 consecutive losing weeks!.
The Fukishima low of 1249 is looking more and more likely down the road, but for now (as per intraday follow up), SPX March gap of 1279-1281 is a level to look at in capping the most recent downward spiral.