Folks, I think that the 9/23/11 presentation from the people at "Chart of the Day" is quite telling for us today, since the Nasdaq dropped again toward testing their trendline. It's a different view than many others are probably seeing, but the chart looks like it's depicting an important juncture - one that could send the Nasdaq index back up, or failing down. This is from their public page at http://www.chartoftheday.com/20110923.htm, so read it and see that the trendline is really being tested now:
Chart of the Day - The current Nasdaq trend is being challenged
9/23/2011
The Nasdaq is currently down 14.5% since putting in a secondary peak 11 weeks ago. For some perspective on the current state of the stock market, today's chart presents the prevailing trend of the Nasdaq. As today's chart illustrates, the Nasdaq has been and continues to trade within its 17-month trend channel. However, the recent selloff has brought the Nasdaq down near support (green line) which is currently being tested.
Notes:
- Will the Dow crash? The answer may surprise you. Find out right now with the exclusive & Barron's recommended charts of Chart of the Day Plus.Rate today's Chart of the Day
Excellent 5 4 3 2 1 No good
By voting every day you help us get you the charts you want to see.
Quote of the Day
"It is a capital mistake to theorize before one has data." - Sir Arthur Conan Doyle
Events of the Day
September 23, 2011 - First Day of Autumn (Northern Hemisphere)
October 03, 2011 - Supreme Court session begins
Mailing List Info
Chart of the Day is FREE to anyone who subscribes.
Chart of the Day is provided ... without warranty of any kind and accepts no responsibility for its accuracy or for any consequences of its use.
Posts
No comments:
Post a Comment