Saturday, August 18, 2007

Short-term Bottom Shaping Up?

NOTE: Please click on the charts below to enlarge them if they do not appear clearly.The market got off to a scary start yesterday morning, but key support of the prior lows from March enabled stocks to reverse their losses into the close. After trending lower throughout the first half of the session, the major indices bottomed just after mid-day. A choppy rally ensued that enabled stocks to erase their losses. Both the S&P 500 and Dow Jones Industrial Average were down 2.7% at their intraday lows, but the S&P actually finished 0.3% higher and the Dow trimmed its[...]

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[Source: The Money Blogs]

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