I charted the daily prices for the past six months on the Russell 2000 ($RUT) after the index closed at 837.45 on Friday, September 29, 2012. Two other trend lines are set to converge just above the 825 area. If support works here, it would mean RUT fell 5%. That’s a descent enough drop to shake…
Month: September 2012
DJIA Chart – Bulls Remain in Control
I charted the daily prices for the year to date on the Dow Jones Industrial Average ($DJIA, $INDU, $DJI, the Dow) after the index closed at 13,579.47 on Friday, September 21, 2012. The Dow is only about 5% above its 200 day moving average (dma). That is relatively close still compared to other peaks such as…
S&P 500 Chart – Resistance Broken
This S&P 500 ($SPX) chart shows the past six months of daily prices after the index finished the week at 1,465.77 on Friday, September 14, 2012. The upside limit is unclear since the SPX is at multi-year highs now and doesn’t have clear hurdles in front of it. With the power of easy money as a tail…
Dow Jones Chart – Resistance or Launching Pad?
I charted the past three months of daily prices for the Dow Jones Industrial Average ($DJIA, $INDU, $DJI, the Dow) after the index closed at 13,306.64 on Friday, September 7, 2012. The 10 dma is still below the 20 dma which is bearish, but that will change within a day or two if stocks don’t fall…
SPX Chart – August 31, 2012
This S&P 500 ($SPX) chart shows the past three months of daily prices after the index finished the week at 1,406.58 on Friday, August 31, 2012. The movement lower might not have much deeper to fall. Two long trend lines of higher lows are within 1-2% below Friday’s closing level. The 50 dma is right in that…