Market Update

Hello my fellow Rebels...

The market today was not all that great. Although we ended with the DOW in the green it was not healthy. I will do some charts tonight in the market summary. But just wanted to point out that we are still not out of the woods.

After the market closed there was some big news from Capital One Financial (COF) that they were closing down their wholesale mortgage business and will lay off 1,900 employees. Also CountryWide Mortgage is stating that they too will be laying off employees.

The volume today was very weak, another sign that is showing continued weakness in the markets.

Charts later..