Stock Trading

Below link points to a aechnical analysis of the current market an CNBC Analyst. As we mentioned before, support in the 1040 area is strong, but if it is broken we could go a lot lower. This article and video highlight this as well.

Check out the video to learn what professional are looking at.

The S&P [.SPX 1073.69 ] closed 1.7 percent lower Thursday at 1,073.69 points after a late-session selloff dented the index. It has now seen four straight days of declines. “The manner in which we got down has me really cautious. We had a large gap down, followed by follow-through, thats not a very pretty picture,” McLaren said.”Id like to see the market hold in here today and then rally into September,” he added.

via CNBC Stock Blog – Watch S&P for Crash Warning Pattern: Charts – CNBC.