Off the Charts

The market saw downside follow-through after yesterday's reversal. The indices closed the day in the red, with the S&P 500 closing down 0.63%.

It was steady trend down day as sellers stepped into the market in the late morning and pushed it lower throughout most of the session. Headlines about a lack of progress in the fiscal cliff talks added to the downside pressure. At this point, there are compelling reasons to step to the sidelines of this market. The market has been unable to sustain any momentum in either direction; this was proven once again on Wednesday, when we got rejected at resistance of 1440....650 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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