Off the Charts

The S&P had one of its harshest sell-offs of the year today as worries grow about the implications of military intervention in Syria. Yesterday afternoon the market reversed to the downside after U.S. Secretary of State John Kerry accused Syrian President Assad of using chemical weapons against his people. Technically the sell-off flashed a signal to, at the very least, get out of short-term longs. The S&P finished down 1.59% today while the Nasdaq showed relative weakness, dropping 2.16%, and the Dow showed relative strength with only a 1.14% decline.

From a geo-political perspective, any type of potential military escalation can spook financial markets, but the situation in Syria is particularly complex. Russia is a staunch supporter of Syrian President Assad and is at odds with the United States' assessment that chemical weapons were used by his regime, while Iran has warned against further U.S. meddling in the region....1083 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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