Monday, April 18, 2011

Today's S&P 500 Intraday Bias - Null

Standard & Poor's credit agency revised its outlook on U.S. debt from stable to negative. The news was released at 9:00 AM and the market reaction was strong. This is one of the few material news releases that occur in a given year, as it may have an impact on investor psychology.

With the market trying to price-in this news, I do not give much reliability to today's bias, rendering it null.

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