One more blow to the bull (6/15/09)

Today's sell-off was a blow to the bull. We all know that market has been stuck in a tight range over the past 2 weeks. Today's closing was very close to the lower support level: S&P closed at 923 (support at 919); DJ closed at 8612 (support at 8500); Nasdaq closed at 1816 (support at 1774). But the uptrend is not broken yet. Because this Friday is the option expiration date, there'll be more volatility ahead. So it's still early to tell which way the market will move.