SP 500 daily June 23 support being challenged

Could be attempting to break support here, on green line. Volume is really low. Lot of financial information being taken on in the market.

See below.

S&P 500 and the Economy. Financials wounded.

Looks like we are getting some blood letting in the financials today. ML, GS, and Citi announced layoffs that could be in the tens of thousands.

The Big three car makers, GM, Ford and Chrysler, have huge inventories of SUV's, Trucks and other gas guzzlers and have no inventory of economy cars. We could see one of these Bankrupt this year as all three have been downgraded by S&P to"credit watch negative."

Combine this with our Airlines declaring that the they will post losses of 18 Billion......this year.

June 22 SP 500 gap up

Gap up, we have quite a bit of news coming out. Seems sentiment is confused again and sees this as a buying opportunity. Watch oil, could be a jump up today as Nigeria had a little turmoil over the weekend.

News might really move us today.