The Wrap 11/21/11


It was another mess out there today, but the S&P held the 1180 level which is a key technical level. European contagion fears ruled the day  and after the close of the market the super committee collapsed like a pup tent with absolutely nothing done. The human appendix is more useful than Congress.  So we will see how the market reacts tomorrow, although that may have been discounted today.

Meanwhile the Euro is sitting right on the (red) trend line support and possibly breaking the wedge.

The dollar continues strong against the Euro.

For now the dollar and the euro are all that matters. Still sitting on the sidelines for now.






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