S+P 500 Daily Chart
Source: Slipstream Trader
Last night the S+P 500 closed at 1413, having fallen 3% in the last three sessions. If the S+P 500 remains below 1422 until Friday night then my weekly sell signal will be triggered.
Thursday, 25 October 2012
The Big Fall in the Stock Market is Still to Come
What a difference a week makes. Overnight we saw the Dow Jones fall over 200 points for the second time within a week. I wrote last Wednesday and focused my attention on the level of 1422 in the S+P 500.
The horizontal line in the chart is the level of 1422, which was the high made in April this year. My view has been that a weekly close below that level will spell trouble for the stock market ahead.
Last night the S+P 500 closed at 1413, having fallen 3% in the last three sessions. If the S+P 500 remains below 1422 until Friday night then my weekly sell signal will be triggered.
Last night the S+P 500 closed at 1413, having fallen 3% in the last three sessions. If the S+P 500 remains below 1422 until Friday night then my weekly sell signal will be triggered.
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