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Friday, February 15, 2008 11:52:45 AM
COTD - Chart of the Day - Dow Downtrend:
For some perspective on the current stock market correction, today's chart presents the short-term trend of the Dow. Today's chart illustrates that, since peaking in October 2007, the Dow has traded within the confines of a downward sloping trend channel. While the Dow is trading above its January lows, it has not been able to break through resistance (red line) and therefore remains in a downtrend until proven otherwise.
The chart below will continue to update.
For some perspective on the current stock market correction, today's chart presents the short-term trend of the Dow. Today's chart illustrates that, since peaking in October 2007, the Dow has traded within the confines of a downward sloping trend channel. While the Dow is trading above its January lows, it has not been able to break through resistance (red line) and therefore remains in a downtrend until proven otherwise.
The chart below will continue to update.
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