S&P 500 INDEX - $SPX
Monthly chart continues to show weakness. No buy signal/pattern evident on this timeframe.
Weekly chart shows a re-test of the January 22nd low, and it held for this week. The week's trading activity resulted in a doji/spinning top candle pattern. No buy signal/pattern evident on this timeframe.
Daily chart shows increased selling pressure today (Friday) with the news of the demise of Bear Stearns (BSC) as we know it. No buy signal/pattern evident on this timeframe. The pattern being traced out is bearish, and I expect an eventual break of the January 22nd low as the market heads lower still.
Friday, March 14, 2008
$SPX Update for 03.14.2008
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