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buyupside's blog

Get Set for a Rocky Stock Market in 2008

The S&P 500 is on the downside after making a multi-year double top (chart 1) and a short-term double top (chart 2). This broad market index has support between 1,200 and 1,400 (green area on charts).

 

Currently, the SP 500 is within its multi-year upside price channel, but its support region extends well below the lower boundary of the channel.

Investors could be in for a rocky ride during 2008.


Related Articles:

Price Patterns - A Double Top Signals a Downside
Price Patterns - Support Levels May Constrain Price Downsides
Ugly Downsides - Avoid the Price Downside

Published Friday, January 04, 2008 9:20 PM by buyupside
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About buyupside

I have been investing in stocks for 25 years. I developed and maintain buyupside.com, a free web site about stocks and the stock market. The site includes hundreds of articles and charts that are written for individual investors. Popular topics include dividend reinvesting, retirement planning and investing, using options and many more.

The above content is provided for educational and informational purposes only, does not constitute a recommendation to enter in any securities transactions or to engage in any of the investment strategies presented in such content, and does not represent the opinions of Zecco or its employees.


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buyupside's blog
I have been investing in stocks for over 25 years. Almost everyday I write an article about investing for buyupside.com, my free site for retail investors. Here I will post some of those articles.

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