The S&P500 collapsed as mentioned in my post yesterday ( http://vipreetinvestments.blogspot.com/2011/06/s-500-update-6th-june-2011.html ) and now seems to be on it's way to test the low of 1249 made in March 2011 which is the intermediate low. If breaks the fall could accelereate to 1218 levels.
Oscillators are fast reaching the oversold zone which may bring in some recoveries which would best be sold into. Supports are available at 1280-1262.
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