From a technical perspective, the S&P 500 (cash index shown above) found sellers at a significant downward sloping trend-line which has suppressed the bulls since the big drop in June. Tomorrow, the Fed will be announcing policy on the fed funds rate. With all the whipsaws and confusion that have been going on in the markets lately, it is hard to say what will happen next. Will Ben Bernanke add more fuel to the fire or blast the markets to the moon? Hopefully after tomorrow, the market will show its cards and give us a sense of direction...
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