Thursday, January 12, 2006

The Mo Is Gone

At least that's the tune for the moment. The market looks like it is finally embarking on some sort of correction. The market began to break down around 1:30pm EST, and really picked up steam.

Yesterday's low of SPX 1288 has been breached. The next logical area of support is at SPX 1275.

Some recent high-flyers like FMCN, BRCM, MRVL have also reversed lower.

It will be interesting to see if the market rallies again into the bell, or if the sellers will finally get the upper hand for a day.

Be back after the close--


Post a Comment

<< Home