Wednesday, December 26, 2012
S&P 500 close 12/26
Market pushed lower today as Congress heads back to work tomorrow to try and come to an agreement before the new year. Everyone will be probably be tuned in to any little sound bite that could provide some guidance on whether a deal will be in done in time. Short term we are weakening with the long end still improving. We have now retouched that weekly support line once again and anything below 1420 is really not a great technical signal with the head and shoulders back in play.