Saturday, November 17, 2007

Stock Market Snapshot as of Nov 17, 2007

The S&P 500 is in a downtrend since Oct 10th. It is below its 200-day SMA which acted as resistance on Nov 14th.

The Nasdaq 100 is faring a little bit better, sitting between its 50-day and 200-day SMAs. The 200-day SMA could act as support again as it did in August.

The Russell 2000 has been the weakest of the bunch for a while now, failing to beat the July highs in October. It is below the 50-day SMA which itself is below the 200-day SMA.

1 comment:

Dave said...

I find EMA to be a better indicator.