Markets Continue Short Term Down Trend in Consolidation

10:44 ET DJIA -94...SPX -10...Nasdaq -26...RUT -13...Oil +20 cents Markets moved lower on Monday morning and may have found at least a temporary support level near Friday's lows. As we pointed out in Friday's post watch the S1 support levels of last Tuesday's large white candles. The markets continue in a consolidation pattern and at least in the first hour continue the short-term down trend of the past two days. FOMC announcement tomorrow, Tuesday at 2:15 ET. The Fed is widely expected to leave rates unchanged. Monday's Action Moving Up: MA, FSLR, V, AMZN, BRCM Moving Down: POT, SCHN, PCLN, GS, CLF, X, MOS, CF, BUCH, ANR, STRA, MEE, BIDU, AGU, DRYS, BTU, IPI, RIMM, SOHU, FWLT, CELG, NUE, MON, MER, SINA, ESRX, MTL, GRMN, LEH