It's been a busy trading morning for me. Straight down to support around SPX 1173, bounce, and now slipping lower again. If we can't hold SPX 1173 on a closing basis I think 1155ish is the next stop.
I am watching the price action of the banks today as they are better bid, and if you remember…they lagged last week. In particular WFC is interesting as it's bouncing off the 26.50 level, which is where it broke higher from in early November after QE2 was announced. A strong candle today and I might be interested in a long-side stab.