Market Starts to take Bad News as Consideration

Wow, the market is finally starting to "worry" a little bit about bad news now. As the price action suggest for the last few months, none of the previous bad news affected the bullish sentiment. Futures are down again this morning on interest rate concern and some more data to suggest a weakening economy. It will be interesting to see if the gap down this morning holds or if we rebound quickly like we did yesterday. Keep an eye on those fibonacci levels for support, we could very well retrace the additional 50% back to the low of May 30th if we fall hard today.