Posted on Tuesday the 19th of May 2009 at 22:58 by LtPinback
A small gap lower after yesterday’s large move then a choppy fight to control price ending in a choppy channel with support at yesterday’s high. The day ended almost flat with a nice sell-off in the last haft hour prompted by the credit card bill passing the senate vote. Volume was average.

S&P 500 Index 5min Chart

S&P 500 SPDRs 5min Chart
The
Financial Sector fell late in the day and took the market with it as the U.S. Senate passed a bill to curb sudden credit card interest rate increases and hidden fees.

S&P 500 Index Daily Chart
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