Not much else to add really except that it still feels like the PPT is involved here, likely due to the elections coming up. Obama certainly does not want a market falling apart into November, so much will be done behind the scenes to keep it as presentable as possible. With so much poor economic news, downward GDP revisions, Spainish and Italian bonds falling apart again, the FED disappointing.. certainly didn't expect to see the S&P still sitting at 1368 after all that. Even add on top the general loss in market confidence with the Libor scandal and Knight Capital HFT SNAFU.
Anyways.. here's the short term pivots/trends to watch. Until these are broken north or south, we will just bounce around inside them.
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