SPX 500 Recap
As of Wednesday 08/31/11 7:15 a.m. we sit about 4 points higher from Tuesday’s close on the SPX 500 1,216.1. As you can see in the 15 minute chart we continued to decline overnight and have recouped any losses prior to the U.S. open. With all the poor economic releases lately, the market may feed off the risk and the possibility of a QE3 may be even more likely. For the medium-term outlook, all eyes are now on the FOMC Statement on Wednesday, September 21, 2011.