S&P 500 (Dec 12) INTRADAY Review Last week the S&P lost over 1% and closed below the August 2012 high at 1419.75 for the first time since the index broke above that level at the start of September. Also, the daily upward trend channel that has been in place since May w3as breached top the downside as the US earnings season continued to disappoint. Friday saw the US Q3 GDP number come in at 2% better than the 1.8% expected. This was good news although a lot of this was due to Government
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Last week crude oil saw some heavy downside