gastaoss
Number of posts : 440
Registration date : 2007-07-01
 | Subject: October 31, 2007 Stock Market Recap  Wed Oct 31, 2007 10:31 pm | |
| 11:26 PM (3 minutes ago)
October 31, 2007 Stock Market Recap
from [url=/reader/view/feed/http%3A%2F%2Ftradermike.net%2Findex.xml]Trader Mike[/url] by Michael
The bulls supposedly didn’t get all that it wanted from the Federal Reserve today but you’d never know that by looking at the charts. Technology & the Nasdaq continue to lead the market higher, with the Naz making a new high today. That new high even came on strong volume for a change.The S&P is approaching resistance from its all-time highs again. Will the third try at this zone be the charm? Some might argue that the index is making a cup & handle here. If it is, watch for the breakout. The potential breakout looks more impressive on the long term chart — 800 points down = 800 points up from here? Or will resistance hold?The small caps continue to bring up the rear…Trend Table TrendNasdaqS&P 500Russell 2000PrimaryUpUpUpIntermediateUpUpUpShort-termUpUpUp(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend *** I’m simply using the indices’ relations to their 200, 50 and 10-day moving averages to tell me the long, intermediate and short-term trends, respectively.
technical analysis
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