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ES 09-25-09

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U.S. Durable-Goods Orders Unexpectedly Fall; New-Home Sales Miss Estimates Demand for U.S. durable goods unexpectedly fell in August and sales of new homes rose less than forecast, restraining the pace of the economic recovery. (FROM BLOOMBERG).... AFTER 6 MONTHS OF 'GREEN SHOOTS' THE TIMES THEY ARE A CHANGING?
VO and I were discussing the downside targets, he mentioned the 20 day simple moving average sitting just below prices at 1035. The perma-bulls should attempt to defend the 20 day sma.

Green shoots are turning a little brown around the edges as summer turns to fall.