StockTock.com 9/23/08 ~ Stock Market Technical Analysis

StockTock.com discusses the market's wild ride today as traders digested testimony from Paulson and Bernanke on the bailout. The S&P has retraced 61.8% of its move off the lows, an important Fibonacci support level. I believe the market can rally from here, but this is a very risky market environment. After hours, news broke that Warren Buffet's Berkshire Hathaway is investing $5B in Goldman Sachs (GS), a delight to the S&P futures. Taking a look at the intraday chart of GS indicates that somebody was trading on this news before the public knew about it. We also look at XLF, QQQQ, GOOG, DXY, GLD, GDX, USO, and the VIX. Check out www.StockTock.com for more analysis.