Intraday Digest: 12-12-2008 S&P Futures (ES, CME)S&P Futures tumbled yesterday to more than 5% as senate rejected bailout plan for automaker, this morning, we had Retail sales came out at -1.8% vs. -2.0% consenses, that was better than estimated, and the US consumer confidence unexpectedly raised from 28 mo low as gasoling price concern eased, furthermore, the good news came from the Treasury Department that they are considering using TARP to rescue automakers that stimulated the entire morning rally of the US equity market. However, there are still minor resistence ahead, one at around 884 area, and the other is the upper resistence trend line, I do expect the market to be able to sustain today's rally and break above 900 by next week.
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