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Alpha TrendsAlpha Trends is dedicated to unbiased technical analysis of momentum stocks or stocks that look poised for a large move in either direction. It is updated by Brian Shannon with video and written technical analysis of the equities markets and individual stocks. |
Video Stock Market Technical Analysis Review 8/15/07
Posted on 08/16/2007 18:54:14 | Link | Post Comment
It seemed eerily quiet mid day and I was thinking that might indicate a squeeze was coming. The market rallied for about 20 minutes (in the Qs it made it right up to the recent intraday downtrend line, prior support at 47.00 and the daily pivot) then it sold off hard once again. The S&P 500 joined the Russell 2000 and is now down for the year, a close below 43.16 will put the Qs there as well. The path of least resistance remains lower and it doesn’t look ready to turn anytime soon.
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