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Friday, April 24, 2009 9:45:17 AM
Chart of the Day - COTD - Testing the Upper Down Trendline
http://www.chartoftheday.com/20090424.htm?T
For some perspective on the latest stock market action, today's chart presents the current trend of the S&P 500. As today's chart illustrates, following the October 2007 peak, the S&P 500 traded with in a relatively narrow downward sloping trend channel. That trend was interrupted by a historic financial meltdown. Since the meltdown, the S&P 500 has resumed trading within the confines of a trend channel (albeit in a volatile fashion) and is currently testing resistance.
http://www.chartoftheday.com/20090424.htm?T
For some perspective on the latest stock market action, today's chart presents the current trend of the S&P 500. As today's chart illustrates, following the October 2007 peak, the S&P 500 traded with in a relatively narrow downward sloping trend channel. That trend was interrupted by a historic financial meltdown. Since the meltdown, the S&P 500 has resumed trading within the confines of a trend channel (albeit in a volatile fashion) and is currently testing resistance.
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