Market Update – Indices Struggle with Opening Gap Resistance Levels
The major indices have been struggling with the opening gap resistance levels. Lehman (LEH) rumors are circulating once again of someone may buy them and that gave the market a bit of a boost. But at the moment the broad market is still struggling to make any headway, and when it does it quickly falls back again.
The rest of the trading day remains ‘confused’ at best.
Reminder that it is Friday so I will be watching my inbox for announcements from the FDIC about any new bank failures tonight. Shelia Bair of the FDIC kind of tipper her hand earlier in the week when she spoke that the FDIC has enough money (for now) to deal with the upcoming bank failures.
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