Wednesday, October 08, 2008

2008-10-08 Market Watch

It looks like the true direction of the market is undetermined.  Financial sector has a new low.

SPX daily:

spx-wave

Look at the details (15-min chart):

image

Hopefully the low won't break tomorrow.  The selling-off in the end of trading day is real with massive volume:

image

It might be a bottom, but the smoke is not cleared yet!

XLF daily:

xlf-wave

15-min chart:

image

QQQQ is the same, just like SPX.

IRX - 3-month treasury bill discount rate:

image

No good news yet.

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