With 35 minutes remaining in today's session, the SPX has sold off and broken important intraday support at 1309, and is heading for a test of Fri.'s low at 1306.16, which if violated, could trigger additional weakness that presses towards a test of Thurs. "Bernanke Lows" at 1295.00. For now, let's see if the 1306 support area contains the current sell-off. MJP 05/01/06 3:25 PM SPX 1308.18; SPY 130.85
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