Fannie Mae-No Politics (FNMA)

[rjanderson383]

If you are on sidelines, just wait:

Support

1.50 1.40 1.30 1.28(or lower Bollinger band) 1.12(100 Day MA)

The lowest 2 supports might change a bit as of tomorrow so just check it on stockcharts.com

On this downtrend just watch these. But keep in mind a support might hold for an hour and then break. So don't do anything too hastily. You may have noticed today that it took a few tries for things to collapse. There is a negative sentiment to the market right now. The 1.02's are too recent to forget.

Couple other notes...
MACD crossover was rejected (bearish)
Parabolic Sar.... should cross on the next uptrend after reversal, as well as a MACD crossover (this is why I will most likely wait until Friday)

RSI / some other indicators aren't giving any strong signals IMO.