Downside Movement?
by vahn on Feb.02, 2010, under Stock & Options, Trading
US Stock Market Trade After about 2 weeks decline, finally S&P 500 closed up yesterday. We enter February with a good start. On 2010, S&P 500 started from 1115.10 and the January close was 1073.83. So there was a 41.27-point decline. I still sense some downside movement on the market. But i’m not sure what will happen in the next few days. Let’s see what happen on the chart. I checked my intraday chart. I’ve found a pattern like this.
It’s very interesting to see what happen today. If market down again today, it’s likely the market will continue to go down. If it can breakout the resistance line, the story will be totally different. |
