Off The Lows
S&Ps are trading at 1184.20, just off the low at 1183. This market is bearish as long as we stay under 1200. On the downside, our target is the July low at 1174.
The market is waiting for the Fed Chairman to finish his Q&A presentation, which should be some time around noon central time. Overall, the market has been hanging on Greenspan’s every word.
NASDAQ is at 1629, above the lows at 1620. Nasdaq has been able to hold above the lows, while the S&Ps and Dow slide.