R.C. Market Report 11.11

• Tomorrow's Forecast: Cautiously Bullish

• The S&P's October 10th close was tested and held today intraday. That date had marked the first point at which we resisted further decline.

• Fannie and Freddie news sent the market higher around 2pm. Was this news important enough to lift this market for multiple days? Apprently not. However, there was rather noticeable volume behind this move so I wouldn't ignore it completely.

• For tomorrow, I think today's intraday low on S&P (885) needs to be retested. If things hold up relatively well and I see a technical turnaround intraday, I'll be buying a call.