Chart of the Week: S&P500 3 year chart

Wednesday, November 09, 2005 | 08:30 AM

The SPX chart below shows that the rally that started with the Iraq war remains intact. Note that the uptrend line has withstood several tests since the rally began.
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Chart of the Week: S&P500 3 year chart
click for larger chart

Spx_110705

Source: Technimentals

Despite several years of events beyond anyone’s expectations, the rally continues to hold firm. We have seen leadership rotate from Tech to Homebuilders to Energy to Utilities. Now, we may be seeing a rotation back to Tech. That would be preferable to a market led by either Energy or Utilities.

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Quote of the Day: 

“The word ‘crisis’ in Chinese is composed of 2 characters: the first, the symbol of danger; the second, opportunity.” -Anonymous

Wednesday, November 09, 2005 | 08:30 AM | Permalink | Comments (8) | TrackBack (1)
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Listed below are links to weblogs that reference Chart of the Week: S&P500 3 year chart:

» Whole Foods and the S from The Stalwart
Barry Ritholtz found a good chart yesterday showing that the SP's recent low and subsequent rally conforms nicely to the general trend of the index over the last three years. In his entry, he speculates that we are in the [Read More]

Tracked on Nov 10, 2005 9:07:53 AM

Comments

"we may be seeing a rotation back to Tech. That would be preferable to a market led by either Energy or Utilities." I hear that a lot. Why? Energy at least makes a lot of money. It it just because you don't want one sector pulling all the weight while everything else flounders? (Like tech in 1999-2000).

Posted by: Brian | Nov 9, 2005 10:31:29 AM

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