"A cynic is a man who knows the price of everything, and the value of nothing." Oscar Wilde

SPX Update, December 22nd

22. December 2008• SPX S&P 500Phantasmix 2 comments

Standard & Poor’s 500 Index, ^SPX
Click charts to enlarge

Broke the triangle to the downside. Positives still “on the table” – flattening 50dma, low volume on a down day (must be attributed to the holiday season, therefore is not a clear indicator).

spx1

And as a follow up to yesterday’s post on pivot points, here’s a picture of what actually happened. We didn’t get anywhere close to the resistance levels, support levels were helpful, but only briefly.

spx_pivots_dec221

 


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2 comments:

  1. headlinecharts, 24. December 2008, 8:15

    Have a great holiday. Let’s hope the markets get a bit more interesting in January.

     
  2. Phantasmix, 24. December 2008, 10:41

    Happy Holidays to you!

    Pretty sure January will be more exciting, so this is a welcome respite :)

     

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