Stock Market Analysis – 10-10-2008
October 12, 2008 at 7:23 pm · Filed Under Broader Market
Looking at the volume and magnitude during the drop this past week on the weekly chart shows how bad it’s been. The low on the SPY in 2002 was close to 70, so that is the biggest thing to watch in the immediate future. The 10 year support level will be slightly different on every index, so in determining when it’s broken, make sure it’s across all of the indices and not just on one particular one. Needless to say, you should still be in defensive mode.
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