Stock Market Analysis – 04-22-2009
April 22, 2009 at 9:51 pm · Filed Under Broader Market
The bulls tried really hard today, but couldn’t hold on at the end. The S&P 500 was underwater for about 45 minutes out of the 6.5 hour trading day, but that included 30 minutes of the opening and 15 minutes of the closing periods. That forms a gravestone doji, which is usually not a good sign for the bulls. $875 seems to be a minor point of resistance, so we’ll have to see how that holds up. Keep the up channel that I drew the past couple days in mind too, since that also still holds. I’ll keep waiting for some fireworks though…
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