The S&P 500 Falters
posted on: 2010-11-27 09:58:41 by Soo-Young
tags: commentary

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I blogged a couple of weeks ago about the possibility of the S&P reaching pre-meltdown levels, and it appears that the index just wasn't able to muster enough bullishness to get the job done. The S&P closed on Friday at 1189.40 during a half day of trading. If you look at the graph below, you can see where the market tanked in 2008, and where it has tried to make a recovery over the 1200 mark in April, and in November.



There is a silver lining to this situation though. If Ireland wasn't thinking of getting bailed out, and North Korea didn't start attacking South Korea, I wouldn't be surprised if we'd be up over 1200. On Monday, the S&P closed at 1197.84, but with the Ireland and Korea news, the S&P took a significant hit.

Investors will continue keeping an eye on Ireland and Korea in the coming week. Hopefully, these two situations will resolve without weighing down on the stock market any further. It would be such a huge boost to investors if the S&P made a sustained recovery over 1200.

Well readers, that's all from my end. Hope you all had a fun and safe Thanksgiving, and happy trading!