Tuesday, April 14, 2009

A Collection of Charts

Here are a few charts to mull over. The S&P 500 Index ended the day down 17 points or 2%. Given that the S&P is in the midst of an uptrend, we would give it the benefit of the doubt that it forms a higher pivot low. In the coming days I'll be watching the prior pivot low as 815. It's still a ways a way, but breaking below 815 will signal a reversal in the current uptrend.
Every retracement thus far has been quite shallow (2 days or less), followed by a resurgence of the bulls. The deeper the retracement, the weaker the market. So, in the next few days let's see how deep we retrace.
Tyler-

2 comments:

Anonymous said...

Hey Tyler,

I liked that pic in your post.....would you happen to know where it is? Name of the Country or mountain range.

Tyler Craig said...

Anon,

Glad you like the pic. I actually don't know the name :) I merely googled mountain ranges, then photoshopped the picture to look like a double top.

Tyler-