Thursday, June 5, 2008

Short-term Top In Oil Further Confirmed

NOTE: Please click on the charts below to enlarge them if they do not appear clearly.Stocks valiantly attempted to recover the previous day’s losses throughout the morning session, but the bears firmly took control in the afternoon, erasing early gains and sending the major indices to sharply negative territory. After slicing through their prior day’s lows, the main stock market indexes bounced off their lows in the final ninety minutes of trading. The Nasdaq Composite lost 0.4%, the S&P 500 0.6%, and the Dow Jones Industrial Average 0.8%. [...]

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[Source: The Money Blogs]

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