Overseas Stocks Plunge

10/06/2008 9:39 am EST

Focus: STRATEGIES

Thomas Aspray

, Professional Trader & Analyst

chart

The world markets are plunging early Monday as banking fears go global and many European averages are down over 5%. The weekly chart of the S&P 500 shows next support at 1060 that could be tested Monday with the next long term support in the 960 area. There is major resistance now at 1170-1200.

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