Washington Takes Over Wall Street

Entering this week, with the government shutdown looming, the S&P (INDEXSP:.INX) sat precariously perched on the 50-day moving average support; it was sort of a big deal as it was the first of a few levels of layered support that include S&P 1660 (the 11-month old uptrend) and S&P 1592 (the 200-day).