8/25/08
All ten of the major economic sectors closed lower, every one had a loss greater than 1.0%. Financials which also the huge news today were the worst performing major sector, losing 3.1%. Technically, market focus now turns to the key support pivot on the S&P near the 1260 level which if broken will likely bring in additional selling and probably lead to a re-test of the July 15th lows in the days ahead. The 15-mins charts of the S&P are now showing slight positive RSI and MACD divergence that could lead to a market rebound attempt tomorrow (at least in the morning time of trading). Let's see what the market has in tone and ready to trade up or down.
