Taking A Look At The S&P 500 ~ market folly

Tuesday, October 20, 2009

Taking A Look At The S&P 500

No question, this market rally has been persistent. So today we thought it would be prudent to post up the most recent video from the guys at MarketClub examining the S&P 500 which could give cause to be cautious. Their quick technical analysis shows that from the highs in October 2007 until now, there is a definitive trendline to the downside that the market has rallied right up to. Conveniently, this same level serves as a 50% retracement if you draw out the fibonacci tool from those highs of October 2007 to the lows of March 2009. Check out the technical analysis of the S&P 500 for more.

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