SP 500 and NDX Futures Daily Charts - The Facebook IPO Cometh

JPM dropped a bit of a bombshell last night, as the great Jamie Dimon confessed the losses at their London based CIO 'hedging operation.'

I had to chuckle today as the Street mavens attempted to direct and deflect that event, so as not to interfere with the much awaited Facebook public offering is expected to be priced next Thursday, May 17th.

I expect that the Street will rally to the