The SPX has had 6 days up and 5 days down. There is no trend in either direction. But price remains above the October 10th low and the low on the 28th which started the six day move up. Volume was up slightly today, but well below average.
The cumulative advance-decline line made a low on October 27th and remains above this level.
Charts courtesy of Stockcharts.com
The market remains in a wait and watch mode for me. Head and shoulders lows are possible but we won’t know until the market breaks one direction or the other.
Post Modified: November 11th, 2008 at 11:31 pm
Tags: Market Internals · Standard and Poor's 500 (SP500) · VolumeNo Comments
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