Bottom line is a break of 872 will drop into the next channel down at least mid-way or 800. The ominous thing on this chart is the 50 year simple average of 452. Granted it may take a few years, but a test of this level looks inevitable.
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- Rodney
- A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.
Thursday, July 9, 2009
S&P All time yearly
This all time yearly chart shows how important the current levels are:
Bottom line is a break of 872 will drop into the next channel down at least mid-way or 800. The ominous thing on this chart is the 50 year simple average of 452. Granted it may take a few years, but a test of this level looks inevitable.
Bottom line is a break of 872 will drop into the next channel down at least mid-way or 800. The ominous thing on this chart is the 50 year simple average of 452. Granted it may take a few years, but a test of this level looks inevitable.
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