S&P500 and Dow break through downtrends
November 28th, 2008
The S&P500 and the DJIA made impressive gains this week after toppling downtrends that have kept the market quiet for the past few weeks. The S&P500 bounced tremendously off its lows with the Dow replicating the trading action though not as strong as most would have hoped. The turnaround was fueled mostly by large selloffs that have priced in virtually no good news from the market. Each news item that comes out if good will bring large bounces while bad news is unlikely to do as much damage. Read more…
