Video Technical Wrapup:

Craig over at StockTock.com gives us a nice overview of today's actoin in the S&P, NASDAQ, Financials and Oil as well as things to watch for in tommorow's trading and beyond.


Fundamental News of the Day:

CNN Money: Dow Down 131 Points on Oil, Financials, and Fedex - Oil resumes rise rallying more than $5 from the day's lows to close up $2.50, Morgan Stanley Earnings Down 60%, and Fedex Posts $241 Million loss.

Bloomberg: Regions Financial Corp., Fifth Third Bankcorp, and Suntrust Banks, Lead Financials Lower for Second Day - Fifth third's shares fall 27% in NY Trading after divident cut and plan to raise an additoinal $2 Billion signal a possible new wave of capital raising needed due to housing slump.

Bloomberg: Bush Calls on Congress to End off Shore Drilling Ban - this is going to get lots of press however the oil market was not impressed as oil rallied up $2.50 on the day.

Chart of the Day:

Below is a chart of the USO which is an ETF that tracks the price of crude oil.