Market Watch with Tom Waitt

June_22nd_2011.mp3 Approaching Support    The S&P 500 stock index has doubled from the lows set in 2009. Fear and bearish forecasts still surround equity markets despite its resilience.   S&P 500 Index (Click For Larger Picture) After doubling the S&P 500 index in value over the last two years while news media and many market pundits remained negative, the recent six week set-back which has eroded 8.2% off the index has them raising the bear flag. As we approach the end of the second quarter the pessimism is getting heavier with riots in Greece concerns of European unity, Oil supplies, the U.S. debt ceiling, Chinese accounting, Russian corruption, Obama's future, Mid East theaters of war, political infighting and Bank reforms. A challenge of the all time high on the S&P 500 (1576.09) would involve a 280.45 point move, a 21.7% advance which is likely to occur as an economic recovery takes hold. There are many opportunities to make money but it requires action o