Tuesday, August 24, 2010

Even More Morose

The Dow is down 130 points! I would be surprised if we didn't see a bounce at Dow 10,000 and S&P 1050. These seem to be pretty likely support levels, at least temporarily. With housing data to be released at 8:00 am MST, that could be either the catalyst for a further plunge or a rally. Of course, we bounced on Friday and we're now testing those levels again this morning.