All manner of support comes in at 1.2520. we’ve got the 50% fibo of the whole 1.2288/1.2748 rebound as well as a confluence of several tops and bottoms.
Mr. Market is apparently suffering from heat stoke and Dr Bernanke won’t be along with any magic elixirs until at least August 1. In the meanwhile we have a series of bank downgrades to absorb, probably just after the New York close. CNBC says 14 of 15 banks under review will be downgraded.
