S&P 500 ($SPX.X) Chart - July 25, 2008
This morning I charted the three year weekly chart for the S&P 500 ($SPX.X) ending Friday, July 25, 2008. I started off trying to find a bullish trend line I could point out that showed something positive for us to see and went all the way back to the 20 year view before I decided that we all know markets go up over enough time and I should focus on what’s happening in the nearer term. That’s how I ended up charting the three year S&P 500 again.
Every trend line I drew points down meaning that all previous bullish trends have been broken recently. We even broke below the June 2006 lows this month. Now the October 2005 lows are within sight. The question might be how long before we get down there versus if we’ll get down that low.
To find a positive from the trend lines, I can point out that we […]
Original post by Alex Fotopoulos