Sunday, October 12, 2008

S&P 500 chart- US markets bottom yet ?

If you followed this chart, you would have been out of the market on September 30 and avoided the massive damage that took place in the past week.
Here in the link that I posted on Sept 30 and the chart.
We were at 1164 on Sept 30. And today we went as low as 839 marking the most historic drop ever. I didn't expect such a massive drop but if a trendline break happens and you need to sell and you could have avoided this historic drop !!


Here is current chart of S&P 500.



60 minute view of S&P 500 chart. Very important chart !!

You want the market to break out of this small 60 min channel to consider any meaningful rally or bottom calling. Otherwise, we will still remain in danger zone.
Be very careful and watch action closely to see if the trendline breaks. If trendline doesn't break put money in Inverse ETFs such as SDS as we will go back to lower levels. If the trendline breaks, put money ultra-long ETFs like SSO and DDM.
Good Luck !!

1 comment:

Unknown said...

US Market got a sneeze, and the rest of the world Market got a flu !!