Mary Schapiro on Flash Crash
Airtime: Thurs. May 20 2010 | 9:40 AM ET
SEC Chairman Mary Schapiro offers her opening statement on the events that led up to the “Flash Crash” earlier this month.
Airtime: Thurs. May 20 2010 | 9:40 AM ET
SEC Chairman Mary Schapiro offers her opening statement on the events that led up to the “Flash Crash” earlier this month.
September 2010 Market Commentary The major market indexes scored a sound follow-through day (FTD) on September 1, 2010 and spent the rest of the month racing higher. This corresponded with a steep sell off in the US dollar and a robust rally in many well-known commodities. The benchmark S&P 500 index and the Dow Jones Industrial…
The major averages ended lower in November after encountering resistance near their April 2010 highs. Furthermore, the 12 week rally which was confirmed on the September 1, 2010 follow-through day (FTD) ended on Tuesday, November 16, 2010. This corresponded with a steep rally in the US dollar and a fresh round of European debt woes.
Heretofore, the action since this rally was confirmed on the September 1, 2010 follow-through day (FTD) has been strong but the market action has been wide-and-loose which is not a healthy sign. The S&P 500 sliced below its two month upward trendline (shown above) which is not ideal. The next level of support for the major averages is their September highs, then their respective 200-day moving average (DMA) lines while the next level of resistance is their respective April highs. We have enjoyed large gains since the September 1st FTD and over the past two weeks, the tape remains somewhat sloppy. Trade accordingly.
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Former Merrill Lynch CEO John Thain has been given the top job at CIT. Andrew Ross Sorkin, of the NY Times, and the CNBC news team discuss.