Oh well….the Fed surprised everyone including me with their announcement that they will buy up large quantities of Government debt. I thought bailouts were the best idea they could come up with.
http://www.cnbc.com/id/29768406
This caused a huge rally after the announcement was made. But the rally stopped short of the 50 day moving average on the S&P 500.
Quickpost this image to Myspace, Digg, Facebook, and others!Today I believe the index should be attempting to break above it, failing which, we may be back for 1-2 more down days.
Direction for 03/19/2009 Thursday: down
Crude Oil (USO)
USO broke above the 50 day moving average and did not tank below for the 2nd day. Today it may meet some resistance at 30 which I believe it should break above with ease.
Direction for 03/19/2009 Thursday: Down then up
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