S&P UPDATE - SUPPORT NEAR

S&P WEEKLY UPDATE

• Support Is Near Around 1100
• If 1100 Is Broken, Next Support 1030
• People Being Forced To Sell On Margin
• Fed Speaks Tomorrow
• QE3 Would Give The Market A Pump
• Would Be Short Lived
• If Bears Are Not Taking Profits - What Are They Waiting For? 

XLF - Weekly

XLF

• XLF Needs To Stay Above 12.50
• Break Below 12.50 Could Cause Another Shoe To Drop In The Banks

Why The Bears Are So Strong

Margin Debt Is The Reason!

• Great Chart From dshort.com
• People Are Being Forced To Sell Do To Being On Margin