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Saturday, October 13, 2007 12:56:55 PM
COTD Testing Upper End of the Trend:
http://www.chartoftheday.com/20071012.htm?T
Despite a host of concerns (i.e. weak housing market, subprime crisis, geopolitical issues, etc.), the stock market has remained within a general uptrend. For some perspective, today's chart illustrates the Nasdaq Composite since 2004. As the chart shows, the Nasdaq is up over 37% since bottoming in June of 2006 and is trading at levels not seen since early 2001. However, as today's chart illustrates the Nasdaq is currently testing resistance (see red line) of its three-year uptrend.
http://www.chartoftheday.com/20071012.htm?T
Despite a host of concerns (i.e. weak housing market, subprime crisis, geopolitical issues, etc.), the stock market has remained within a general uptrend. For some perspective, today's chart illustrates the Nasdaq Composite since 2004. As the chart shows, the Nasdaq is up over 37% since bottoming in June of 2006 and is trading at levels not seen since early 2001. However, as today's chart illustrates the Nasdaq is currently testing resistance (see red line) of its three-year uptrend.
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