Above the Trendline
Posted on Monday, March 24th, 2008 | In Current Market News
Contributed by: Brian Shannon (http://alphatrends.blogspot.com) -
Today, although the volume seems to be running a little low for now. The SPY and QQQQ have made it above key intermediate term levels of prior resistance (134.50 and 43.50 respectively). The rally has brought these markets back above their declining 50 day moving averages and the direction of the key averages suggests that this short term strength will have to be digested over the next few sessions. It is likely that the 134.50 and 43.50 levels will be tested as support in the coming days but for now there is no sign of letup in the upward momentum. As always, risk management is job #1.
Last 5 posts by Brian Shannon
- Stock Market Video Trend Analysis 3/9/09 - March 9th, 2009
- Stock Market Video Trend Analysis 2/6/09 - February 6th, 2009
- Stock Market Video Trend Analysis 2/5/09 - February 5th, 2009
- Stock Market Video Trend Analysis 2/3/09 - February 3rd, 2009
- Stock Market Video Trend Analysis 2/2/09 - February 2nd, 2009
 About Brian Shannon (http://alphatrends.blogspot.com)
Brian Shannon is a full time trader who shares his market experiences on the highly popular alphatrends.blogspot.com site. Alpha trends has been called "the youtube of technical analysis" by Technical Analysis of Stocks & Commodities Magazine (March 2007) and has been praised in Barron's (October 23, 2006) and Active Trader Magazine (July 2007). Brian trades an account at www.worldcupadvisor.com since March 2006 and in that time has more than tripled the results of the S&P 500. He can be reached at alphatrends@gmail.com |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.