After today's panic sell off, I think we basically are out of good news expectation after the announcement of commercial paper buy back, global central banks half point rate cut, today's treasury injection to bank, etc. We really have not much left to announce. While bad news are there everyday, banks gone bankrupt every week in September, LIBOR rate kept raising depite the rate cut, retailers panic, GM downgrade, etc. I don't know, but the weekly chart of S&P 500 is just not making sense, I really doubt we will close this weekly bar at low, it is in the range where the internet bubble burst was.
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