The overnight action of the S&P futures says it all: markets don't turn until they're ready to turn. With respect to Steve Jobs and best wishes for a full recovery, the action in AAPL knocked the stuffing out of the NDX 100 yesterday and looks like it broke the uptrend. The S&P however made a new high, surpassing my Friday evening Fib target by 1 point, to 1293. Based on the form of the correction thus far off this new high, I must admit there could be another one coming. Again, the full moon is Wednesday (4:22 pm EST), so conceivably the market could rally right into the close that day.
In other news, there is chatter that the Dutch Finance Minister just said that the Euro Zone has rejected an increase in the European Stability Fund. Less money for bailouts. Perhaps this is why Greece is down over 1% today. It's still not over.
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