Tuesday, March 4, 2008

Bearish Follow-through In The Financial Sector

NOTE: Please click on the charts below to enlarge them if they do not appear clearly.After spending the past several weeks locked in a choppy, sideways range, the major indices finally made a definitive move on the last day of the month. Unfortunately for the bulls, it was in a southerly direction. Stocks gapped open below their previous day’s lows, then suffered another leg down in the afternoon. The Dow Jones Industrial Average tumbled 2.5%, the Nasdaq Composite 2.6%, and the S&P 500 2.7%. The small-cap Russell 2000 and S&P Midc[...]

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[Source: The Money Blogs]

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