2008 Jul 15 - Tue

Market Notes: 2008/07/15
I guess the markets really are bearish about what is happening in the world. The Dow gapped downwards on open and played with 10850 for a bit. It seems that with Bernanke's Congressional testimony later in the morning being hard and to the point, the markets had their edge taken off and rebounded to a little in the positive zone. OPEC indicated that their demand forcasts are being reduced, which caused a $5 dollar drop in Brent crude in the midst of a $10 high low swing for the day as traders took their profits. Usually the Dow has an exact opposite swing, but narry a blip occurred, and actually closed down for the day under 11000.

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