All Over but the Crying?

9:00am (EST)

Whew. What a week.

Wall Street went down again in dramatic fashion following continued global concerns as the bears pounded the bulls into one of their worst beatings in a couple of years. Volatility exploded, fear and panic set in, and blood was in the streets…but we loved the action.

The bulls came into the week trying to hold key support levels and were clinging to hope the jobs reports would come in better-than-expected. However, the first bit of news wouldn’t hit until Wednesday on that front and they still faced the wrangling in Washington over the debt deal. After an initial pop on an agreement over the weekend, the bears took advantage of the waffling to get the bill signed and pushed the market lower by 1%. The session ended slightly lower as the both sides of the House approved the bill and Obama signed it before Wall Street’s closing bell. Monday session included a 300-point swing on the Dow and it was a warning sign.

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All Over but the Crying?

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