Technically we haven't hit any real resistance yet....S&P 50%...

Technically we haven't hit any real resistance yet....S&P 50% retrace and the bear market down trendline....We're headed into this area 1121....we might get there a bit overstretched and tired....could be a chance for the bears

1106 will be interesting as well...that was the low on the 29/9/08 when it lost 107 points in a day

On the numbers couple of points -

JPM - there provisions for losses rose to 9b from 8b June qtr...12.5% increase....delinquent loans increased by 30% in q2 and are apparently going at the same rate in q3...so they're managed there loan book well

their profits were 3.6b so plenty of room there

whether they can continue to do so is the question

to me its not a question of whether any bank is going to fall over(yeh famous last words) ....where you'll get a big market reaction....but more of a slow strangellation of profits into next year. Remember, if your're unfortunate enough to lose your job and can't get another the process of becoming a bad loan will take a year maybe more

...and so far the banks seem to have it under control....we're know by the end of the week

Intel - was impressive - even though sales down on last year....up 17% on previous 2 quarters...so if they're selling chips others are still building computers