Thursday, February 18, 2010

S&P 500 in 2003-2004

March 2003 was when the U.S. stock market finally bottomed after the dot-com bust and started to make a year-long, sharp recovery.

Sounds familiar?

Guys at Break Point Trades had this log chart in their free newsletter: daily S&P 500 from February 2003 to December 2004. The similarities are almost spooky. Should the history repeats, then what we may have for most of the year looks like a choppy market that makes lower highs and lower lows within the falling wedge/flag.


That would actually be a bullish formation, as you can see in this chart; S&P finally broke to the upside in November.

Just watch out for non-financial events that could obliterate any TA. Greece, EMU, US domestic politics, Middle East... take your pick.

3 comments:

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    この記事の中でリンクしています。
    Easy investment:Point And Figure Charting (2010/02/23)
    http://easy-happy-invest.blogspot.com/2010/02/point-and-figure-charting.html
    良かったらみてください。

    ReplyDelete
  2. Yeah bunch of mumbo jumbo nonsense, isn't it? LOL.

    ReplyDelete