Volume was off on the SPX, NDX, INDU, OEX, and RUT today. The market is weak and could go as low as 1160ish on my charts. SPX 1153 is 720 degrees (two full 360 degree cycles) down from the May high. Of course, it could bounce from any point. But I am getting tired of writing that.
Charts courtesy of Stockcharts.com
Tags: Dow Jones Industrial Average · Nasdaq Charts · OEX · Russell 2000 Smallcaps · Standard and Poor's 500 (SP500) · Volume
Just for fun - look at the chart below and picture in your mind that price followed the red-line from 1997-2002. Assume price made a nice neat correction in 1997 until near the top in 2000. Assume then that price rose in an orderly fashion into 2002 and continued along the real path from there. Wouldn’t market perceptions be totally different?