The Watched Pot
We’re very much used to multitasking and dealing with distractions here at the Breaking News desk, but it can be quite trying when a simple thing like a market milestone becomes a major issue.
Our producers expressed the desire to have a special alert ready to go if and when the S&P 500 crossed the 1500 mark. This would be the first time that’s happened since September of 2000, so it was a simple and reasonable request.
Unfortunately, the index refused to cooperate, hitting your classic resistance point at 1500. It came within a fraction of a point several times during Wednesday’s session, driving me to distraction while I tried to keep close track of it -- while performing all the other tasks of the day.
The same thing happened at the open Thursday, but finally -- finally! -- the S&P crossed the mark during "Morning Call." I have no idea if it will be a brief visit or part of a continued rise, but at least I won’t have to stare at the market numbers continuously. Until, that is, we get close to the all time S&P closing high of 1527.46.