The SPX 500 sits about flat from Tuesday’s close on the S&P 500. The ECB had announced its lending to banks earlier this morning, which caused a spike in the SPX 500 and it has failed to break above the 0.618 Fib at 1,255 area. At 10:00am EST we have the release of existing home sales, which could fuel additional declines if sentiment remains bearish with below forecasted results. Take extreme caution trading as we approach the end of the week.
