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Suddenly the world makes sense again if only for a minute..........
What goes up must come down!
Finally, the E-Mini S&P 500 had its dip or retracement. Muammar Gaddafi had been the leader of Libya since a coup in 1969. His power had endured 4 decades. When thinking of the ruler, one normally would note the anti-western policies. The unrest in Libya and the pressure on the US Government Officials to help the people of Libya have the market in a tailspin. The tanks, helicopters and war planes of Gaddafi were released on the demonstrators to squelch the protests. Senator John Kerry has been a voice against the treatment of the people of Libya and Secretary of State Hillary Clinton should make a statement today on the appalling violence. These tensions grew since the Reagan years. The delicate balance of alliances and adversaries are of extreme importance to the US as clearly any fracture could cause potential US involvement.
High unemployment and lackluster home sales can pressure the rate of the recovery. The market today has reflected the tired bull. Technical damage may be the game changer in terms of the week’s action. The market is subject to technical weakness and the CBOE Volatility Index rose accelerating the fear barometer.
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