Since the election, all major indexes have turned sharply downward on the back of unresolved “fiscal cliff” issues. The S&P 500 and the Dow Jones Industrial Average are now approaching areas of significant support, leaving many investors on edge.
The S&P 500 is trading near support around 1,300. It was a fall through this support level that ignited the further crash in October, 2008. Since that crash, ...
Continue Reading →The markets charged out of the gates at the beginning of the year and, as they tend to do, historically, began to lose steam in late April/early May. Since then all three major indexes, the S&P 500, Dow Jones Industrial Average, and the NASDAQ have all found resistance at the 1,400.00 level, 13,000 level, and 3,000 level, respectively.
Here is a one year look at the S&P 500, Dow Jones Industrial Average, and NASDAQ indexes:
The S&P 500 recently broke support and is now– as of this writing– lingering just below its 200-day simple moving average (SMA). Though there is hope for our equities markets to stay strong throughout the year, a major break in support raises a big red flag.
If the S&P 500 continues to fall, breaking its 200-day SMA, additional support will likely not be found until the index reaches the– somewhat far off– ...
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