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Support Levels Fail
18-November-08 14:51 ET
After spending about two hours falling steadily lower, the major indices have spent the past 60 minutes hovering near the lows of the session. The market is a mirror image of what it was earlier this morning. While energy (-1.67%) is showing a bit of relative strength, all of the major sectors are in the red with financials (-4.53%) leading to the downside.
As we finish this up, the selling has accelerated as the market falls rapidly to fresh intraday and multiyear lows.
Dow: -1.98%
Nasdaq: -3.46%
S&P 500: -2.77%
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Market Holding Support
18-November-08 11:53 ET
The trading so far today has been choppy, but as we head towards the New York lunch hour, the major indices are back to the highs of the session with modest gains. As it stands, materials (-0.04%) is the only major S&P sector to have difficulty holding on to gains, while strength in energy (+2.74%) leads the broader market higher.
Volume, meanwhile, is running right around average for this point in the day. Breadth is essentially flat on the Nasdaq, but is slightly positive on the NYSE.
Dow: +2.24%
Nasdaq: +0.82%
S&P 500: +1.64%
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