S&P Approaches Lehman Benchmark: Will History Repeat Itself?
Last time the S&P traded at $1220 was on September 15th, 2008. It was on this date that Lehman Brothers filed for bankruptcy. As of this writing, the S&P futures are at $1202.75, steadily cruising towards this level. Many technical indicators point to an overbought condition. Will this be the event horizon?
Chart 1: S&P 500 Futures (2/30/8 – 5/30/10)
