S&P 500 Testing Yesterday’s Lows

The S&P 500 has come in to test the lows of Wednesday; as I said this morning a break of this level would be a powerful incentive for bears.  There should be no particular reason the 1300 level holds, so I’d be surprised if we don’t see further downside.  That said, I’ve been surprised often the past 2 years.

Monday is a day and a half way so bears need to get their work in quick. ;)  Thirteen downside points until a real support level.  That is where it should actually get quite interesting.

About Mark Hanna 542 Articles

Affiliation: Hanna Capital, LLC

Mark Hanna is President and Owner of Hanna Capital, LLC, a registered investment advisory firm. Mark has been a follower of markets since the late 80s, with a focus on individual equities since the mid 90s. He has been a well known commentator in the financial blogosphere for the past 5 years, following a career in corpoporate finance and accounting. Mark attended the University of Michigan where he graduated with a degree in Economics.

As an avid reader, Market Montage is the personal blogging site for Mark to share his views on economics, markets, and the like. Occasional cynicism and wit shall be deployed in his postings.

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