Chart of the Week: 6 Month SPX chart

Thursday, January 29, 2004 | 12:56 PM

On a short-term basis, the S&P 500 broke a trading channel and with short-term momentum weakening there is some near-term risk to correct towards the 50-day MA just under 1,110.

6 Month SPX chart
spx_break.bmp
Source: Bloomberg

Technimental’s Kevin Lane notes that “Given the strong tape action along the away, this corrective activity is likely to be modest; However, there has been minor trend lines on the S&P 500 violated and some internals that are weakening.”


Random Items:
The Super Bowl Indicator
The Paradox of Progress (Dallas Fed Reserve) pdf
Breaking the oil cartel's stranglehold
The Pentagon's Weather Nightmare
J.P. Morgan Chase-Bank One Merger: Winner or Loser?
The Most Hated Company In Tech
China's Ranking of World Universities - 2003

Quote of the Day
"Given the sluggish job growth and the virtual absence of inflation, the Fed has no reason to tighten monetary policy for quite awhile, regardless of the electoral calendar."
- Alice M. Rivlin, former vice chairwoman of the Federal Reserve

Thursday, January 29, 2004 | 12:56 PM | Permalink | Comments (0) | TrackBack (0)
de.li.cious add to de.li.cious | digg digg this! | technorati add to technorati | email email this post

bn-image

TrackBack

TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8341c52a953ef00d83503386653ef

Listed below are links to weblogs that reference Chart of the Week: 6 Month SPX chart:

Comments

The comments to this entry are closed.



Recent Posts

December 2008
Sun Mon Tue Wed Thu Fri Sat
  1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31      

Archives

Complete Archives List

Blogroll

Blogroll

Category Cloud

On the Nightstand

On the Nightstand

 Subscribe in a reader

Get The Big Picture!
Enter your email address:


Read our privacy policy

Essays & Effluvia

The Apprenticed Investor

Apprenticed Investor

About Me

About Me
email me

Favorite Posts

Tools and Feeds

AddThis Social Bookmark Button

Add to Google Reader or Homepage

Subscribe to The Big Picture

Powered by FeedBurner

Add to Technorati Favorites

FeedBurner


My Wishlist

Worth Perusing

Worth Perusing

mp3s Spinning

MP3s Spinning

My Photo

Disclaimer

Disclaimer

Odds & Ends

Site by Moxie Design Studios™

FeedBurner