(Chart courtesy of FreeStockCharts.com)
Senate Reappoints Bernanke For New Term (77/23), Traders Sell SPY Into Close
1/28/2010 04:31:00 PM | via @Dvolatility |
"Bernanke Clears Senate Hurdle for Confirmation as Fed Chief" (Bloomberg). $SPY was riding an uptrend channel in the last half hour of trading but broke below floor (109) and uptrend support and closed at 108.55 (-1.15%). See video and snapshot of the close. Streaming chart is from FreeStockCharts.com. Any thoughts going forward?