Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
We have a catalyst of some Reid comments to cause this afternoon selloff but generally markets are going to go where they go and use whatever is available to do so. So on the first attempt we did have a breakout on the Russell 2000 that looks to be holding, but a rejection on the other indexes. As I type the S&P has given up 9 points versus its high. Makes it more tricky going into Bernanke’s actions tomorrow, as a vertical move into tomorrow noon-ish would have had this market at uber hot.
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