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Minyanville's T3 Daily Recap: Market Remains Sensitive to Washington's Fiscal Cliff Comments
The markets gave bulls a gut check this morning but the indices held key levels to keep this fledgling rally intact. The S&P was down around 1% at 10 a.m. ET but all major indices recovered to finish the day up 0.8%. The fiscal cliff negotiations continue to dictate the action. Encouraging comments from both House Speaker John Boehner and President Barack Obama who stated he wants to have the negotiations wrapped up by Christmas rather than the December 31 deadline helped trigger the intraday reversal. SPY filled the gap from Black Friday early in the session but held ...
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