I charted the past six months of daily prices for the Dow Jones Industrial Average ($DJIA, $INDU, $DJI, the Dow) after the index closed at 13,075.66 on Friday, July 27, 2012. The DJIA fell below support at the beginning of June, but bounced back quickly and created a new ascending trading channel. The price action of…
Month: July 2012
SPX Chart – Stuck in Descending Trading Channel
This S&P 500 ($SPX) chart shows the past six months of daily prices after the index finished the week at 1,354.68 on Friday, July 6, 2012. Resistance at the trend line of lower highs proved too much for the large cap index this past week as the rally in stocks was halted after surging higher from the…
2012 Stock Picks Contest – Q2 Update
As part of a group of top financial bloggers, I entered a contest to see who could come up with the best stock picks for 2012. We agreed to pick four stocks or ETFs and hold them for the entire year with no changes allowed. Regular My Trader’s Journal readers know I’m not much of a buy…
S&P 500 Chart – June 29, 2012
This S&P 500 ($SPX) chart shows the past six months of daily prices after the index finished the week at 1,362.16 on Friday, June 29, 2012. June was a strong month for the S&P 500 as it bounced off its lows met on the first couple of days of trading. That bounce took the large cap index…