While we may be due for an oversold bounce near-term, it's always good to take a step back and look at the big picture. Focus on the green trend lines I've drawn in. Until we get a full break to the upside of that trendline on some strong volume, we are still in a downtrend.
Chart: 1 year S&P500 daily
Chart: 1 year S&P500 weekly
Just your friendly neighborhood reminder.
Monday, June 16, 2008
Just a Friendly Reminder: We Are Still in a Downtrend
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