Today’s volume was about the same as Friday on the SP500 Index (SPX) and lower on the Nasdaq Composite Index (COMPQ). The DOW lndex (INDU) looks the weakest in the short term.
The SPX remains setup to make a run at the 50/50 point on Thursday. I have no idea what will happen if it hits there because price is so close already. There won’t be any momentum up (unless we go down before Thursday). I would consider a 50/50 “hit” with price passing through between Wednesday and Friday.
Post Modified: July 3rd, 2008 at 12:32 am
Tags: Dow Jones Industrial Average · Nasdaq Charts · Price-Time Balance · Standard and Poor's 500 (S&P500) · Volume2 Comments
2 responses so far ↓
Andy
what do you think the catalyst to move the SP500 to 1440 would be? somehow I think that nothing will come soon (or 1420 by thursday). i do hope you’re right with a retest of 1440 by mid june…
Catalyst? Who knows? Short covering? A massive treasury to equity buy program? I rarely know why and stopped caring a couple years ago.