By Laura Gross:
"We are now in the middle of yet another uncertain week in the marketplace. Earlier this week, the bulls started out strong, but markets dropped in afternoon trading on Wednesday, with stocks accelerating their losses based on the news that Spanish credit was downgraded from a B to a CCC+. While the SPX is holding up fairly well at 1314, the DOW dropped 77.42 points (0.62%) with a close at 12,496. At The Naked Traders, we are watching the 1300 level on the SPX as the professional traders have identified it as a key psychological area. A close below 1300 could signal a further selloff in the markets. ..." Click through for the rest.