Very similar picture on the S&P 500.
Very similar with the Nasdaq. Once again it bounced off of the longer term down trendline.
Finally the Russell 2000 bounced off of the fibonacci levels. Expect it to go to 710 before it turns.
Tuesday, December 04, 2007
December 3, 2007 - Market Recap
The DJIA turned back down a little bit. On Friday it bounced off of the longer term trendline. This should consolidate up against the higher trendline before turning down for 13 days, and going well below the 12,800 level. The Stochastics are all over bought and showing a turn. It was light volume, people are waiting for the Fed anouncement on interest rates.
Very similar picture on the S&P 500.
Very similar with the Nasdaq. Once again it bounced off of the longer term down trendline.
Finally the Russell 2000 bounced off of the fibonacci levels. Expect it to go to 710 before it turns.
Very similar picture on the S&P 500.Very similar with the Nasdaq. Once again it bounced off of the longer term down trendline.Finally the Russell 2000 bounced off of the fibonacci levels. Expect it to go to 710 before it turns.
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