Saturday, April 4, 2026 
Market Rap 2.October.2009
US stock futures sold off upon release of the nonfarm payrolls report at 8:30 AM EST this morning. After the gap lower open in the cash indices, the broad market measures recovered most of their early morning losses and traded in a range for the majority of the session. The S&P 500 ended lower by 4.64 points or .45% at 1025.21. After yesterday’s broad day of distribution, it was not surprising to see the market forces stabilize the price action. The question remains if this is just another retracement to be bought, or if we are seeing the beginning of a more meaningful sell-off. For the second week in a row, the S&P 500 closed lower–a situation not witnessed since the week of July 6th. S&P 500 Weekly Chart LQD - Investment Grade Corporate Bonds
In addition to many other tells, I continue to keep my eye on the investment grade corporate bond market (LQD) which broke the uptrend that had been in place since early March.
Next week, new data sets will zoom across the wires, prices will fluctuate, and fortunes will be made and lost.
All the while, the beat will go on.
If we break 1,000 on the S&P, do you believe we will see a significant sell off?
Comment by Tom — October 3, 2009 @ 6:41 pm
I think there is a significant sell-off coming and we will break below 1,000 SPX. The tough question is one of timing.
Comment by Mr. Volatility — October 3, 2009 @ 7:35 pm
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