Monday, August 18, 2008

SPX: YIkes

More bad news for the banks seemed to be the catalyst for another sell-off of the SPX.

Still in the upward channel, but getting precarious. I wouldn't be surprised to see the upward trendline challanged intraday tomorrow. The real test will be to see where it closes.

SPX Daily Chart:

1 comment:

Brian Cox said...

Perhaps a new lower low?

http://clip2net.com/clip/m9559/1219124543-clip-59kb.png