End of Month and Black Friday Could Push Us Through SPY 111.50 - Tread Carefully!
Monday, the market tried to break out to a new high after overseas markets rallied. An early surge faded quickly and the market drifted lower, giving back some of its gains. That was the third time SPY 111.50 has been tested and resistance is building. Yesterday, the market fended off a decline after Q3 GDP was revised downward from 3.5% to 2.8%. The FDIC also released its apposite information and they fell to a negative $8.2 billion in the third quarter. The number of banks on its "problem list" rose 33% in the third quarter to its highest level in over …
November 25, 2009
• Posted in: Options
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