Rusty Market Musings » FDIC http://blog.laenasinvestments.com A market diary and trading ideas repository Sat, 22 Aug 2009 13:52:40 +0000 http://wordpress.org/?v=2.8 en hourly 1 No follow-through http://blog.laenasinvestments.com/2009/02/26/no-follow-through/ http://blog.laenasinvestments.com/2009/02/26/no-follow-through/#comments Thu, 26 Feb 2009 22:53:36 +0000 LtPinback http://localhost/TradeBlog/?p=58 The market opened higher but quickly turned down into a downward trend channel for the rest of the day. At the end there was a mini sell off within the channel bounds. S&P 500 traded between yesterdays high-low range. Volume was average on the light side.
S&P 500 Index 5min Chart

S&P 500 Index 5min Chart

S&P 500 SPDRs 5min Chart

S&P 500 SPDRs 5min Chart


If market doesn’t turn upwards quickly there is a real risk of making new lows that could take the form of a crash. More so with AIG and the Autos problems still looming over the market. The Health Sector was heavily sold on budget plans. A FDIC report showed that the number of troubled U.S. banks soared in the fourth quarter. Interestingly fear indicators were stable.
S&P 500 Index Daily Chart

S&P 500 Index Daily Chart

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