Afternoon Update – Please Read
A couple of thoughts as we head into the afternoon session. After a choppy early morning stocks found a thus far low for the day just around 10:45 am and at the 1305 – 1308 support level on the S&P 500. That support level also coincides with the 38.3% retracement of the equity bounce in […]
Morning Thoughts June 12
SPX opened on highs and closed on lows on heavy volume (126bp move down). Despite EUR 100bn bank bailout, IBEX closed -54bp (fell 500bp+ intraday) & 10yr +30bp to 6.466. Also weighing on sentiment, Moody’s is expected to announce downgrades to 17 global banks this week (TTN). Despite heavy closing volume, overall volumes were -8% […]