Replies to post #346447 on $Stock*Shop*Charts*News*Option$

[HoosierHoagie]

ROFL...just thought I would ring your bell...heh heh

[Tuff-Stuff]

schaeffers recap<>Crude futures took a spill today, as traders cast a wary eye toward China. The threat of a rate hike for the world's No. 2 oil consumer sparked concerns about weaker energy demand, just one day after traders cheered data showing record-high oil demand from the nation. Thanks to today's slide, in fact, oil futures erased all of their weekly gains. Crude oil for December delivery ended on a deficit of $2.93, or 3.3%, at $84.88 per barrel. For the week, the contract shed 2.3%.

Gold futures also took a hit today, despite the malleable metal's safe-haven appeal. Concerns about the global economy have been mounting all week, and those anxieties culminated today in a widespread bout of profit-taking in stocks and commodities. As a result, December-dated gold shed $37.80, or 2.7%, to close at $1,365.50 per ounce. On a weekly basis, gold kept pace with crude by giving up 2.3%.

Levels to Watch in Trading:

* Dow Jones Industrial Average (DJIA – 11,192.58) - support at 9,500; resistance at 12,000

* S&P 500 Index (SPX – 1,199.21) - support at 950; resistance at 1,300

* Nasdaq Composite (COMP – 2,518.21) - support at 1,900; resistance at 2,600















http://www.schaeffersresearch.com/commentary/observations.aspx?ID=103463&obspage=2