10/13 Market Preview: On the Brink

By John Galt October 13, 2011 – 05:25 ET (click to enlarge/reduce) The chart above is simple enough. The market rallied towards the 1220 resistance area on the S&P 500 yesterday, failed on low volume, and in the last hour sold off on heavy volume while selling into the close. This morning futures are mildly negative as of this posting but were positive overnight until Europe opened indicating that there is great dissatisfaction with the proposals put forth thus far as the European Central Bank’s dartboard of ideas is aggravating the…

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