Senate Reappoints Bernanke For New Term (77/23), Traders Sell SPY Into Close

"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?



(Chart courtesy of FreeStockCharts.com)

Related Posts

Comments

HTML Comment Box is loading comments...