Watch for support at 9750 on the dow
If the DOW can hold above the 9750 level on the CLOSE throughout the week,we may get a substantial snap back rally.... Any CLOSE below this level and the next stop Is 9200 before you would probably see substantial support... The news cycle will play an Important role In the coming weeks... TS Late slide: Stocks fall in last hour, Dow down 115
By TIM PARADIS (AP) – 3 hours ago
NEW YORK — Traders gave in to another case of last-hour anxiety Monday and drove stocks to their lowest level in seven months.
The Dow Jones industrial average, down just 42 points at 3:15 p.m., was down 115, or 1.2 percent, by the close 45 minutes later. That extended the Dow's sharp drop from Friday, when it lost 323 in response to a disappointing May jobs report. Broader indexes had steeper percentage drops than the Dow on Monday. The technology-focused Nasdaq composite index fell 2 percent. Treasury prices rose as investors again went in search of safe investments.
There was no obvious catalyst for Monday's late slide, although traders were again preoccupied with Europe's economic problems. Traders know that Europe's business day begins before trading opens in the U.S., and they'd rather sell then wake up to an unpleasant surprise. The last-hour selling, which followed a similar move Friday, also recalled the 2008 financial crisis, when traders decided the best strategy was to dump stocks just before the close. http://www.google.com/hostednews/ap/article/ALeqM5jmT59dgLTTziX4p9X9MRBRpWZGdQD9G6NA6G0