Chart of the Day - Tough Decade - NasdaqDecember 18, 2009As the first decade of the new millennium rapidly comes to a close, today's chart takes a look back at the decade that was. Today's chart begins shortly after the stock market as well as the nation was partying like it's 1999 (i.e. dot-com boom). The proverbial punch bowl was taken away early in 2000 and the Nasdaq suffered its 2 1/2 year dot-com bust. The market eventually bottomed and began a five-year rally thanks in part some infamous financial innovations (i.e. Ninja loans -- No Income, No Job, and no Assets). Then as it became apparent that those financial innovations weren't quite as innovative as first hoped, the system went into near meltdown. Over the past nine months, the Nasdaq has been rallying (albeit at a pace that is slowing over time) and is currently testing resistance. All in all, a tough decade.
Notes:
- The market is at a critical juncture. Where we go from here may surprise you. Find out right now with the exclusive charts of Chart of the Day Plus.Quote of the Day
"I don't set trends. I just find out what they are and exploit them." - Dick Clark
Events of the Day
December 21, 2009 - First day of Winter (Northern Hemisphere)
December 25, 2009 - Christmas Day
December 26, 2009 - Kwanzaa (1st day)
Friday, December 18, 2009
Best of times or worst of times? Chart of Day shows market may decide soon
The big picture for equities remains in debate as theories range from a new bull market, to a continuation of the bear-market rally, to a market crash any day now. Certainly the long-term trendlines indicate that the markets are at an important level; and the dollar did impress with its rally. Against this backdrop, let's see what the folks at Chart of the Day are saying today:
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