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Chart of the Week

Posted By Barry Ritholtz On November 17, 2003 @ 1:15 pm In Finance,Media,War/Defense | Comments Disabled

Stocks are at the top of their up channel, and have become somewhat extended. They remain vulnerable to a pullback.

Extended Market Vulnerable to Pullback (S&P 500 )
spy_text [1]

Source: Gary B. Smith, TC2000 [2]

The markets up trend line (lower line), they present a lower risk entry point for buying. A violation of that trend line (S&P500 1025-30) would be a significant sell signal.

Random Items:
Shrugging off the bad [3]
Bubble Junior [4]
Lands of the cautiously rising sun? (German and Japan) [5]
Dirty Ways To Come Clean [6]
Philly Fed Perspectives on the Jobless Recovery [7]
The Wal-Mart You Don’t Know [8]

Quote of the Day:
“No man can always be right. So the struggle is to do one’s best, to keep the brain and the conscience clear, never be swayed by unworthy motives or inconsequential reasons, but strive to unearth the basis factors involved, then do one’s duty.”
-Dwight D. Eisenhower [9]


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2003/11/chart-of-the-week-2/

URLs in this post:

[1] Image: http://bigpicture.typepad.com/comments/spy_text.html

[2] TC2000: http://www.tc2000.com/

[3] Shrugging off the bad: http://money.cnn.com/2003/11/14/markets/sun_lookahead/index.htm

[4] Bubble Junior: http://www.forbes.com/forbes/2003/1124/264.html

[5] Lands of the cautiously rising sun? (German and Japan): http://www.economist.com/agenda/displayStory.cfm?story_id=2208205

[6] Dirty Ways To Come Clean: http://www.forbes.com/home/2003/11/14/cx_da_1114topnews.html

[7] Philly Fed Perspectives on the Jobless Recovery: http://www.phil.frb.org/publicaffairs/speeches/santomero36.html

[8] The Wal-Mart You Don’t Know: http://www.fastcompany.com/magazine/77/walmart.html

[9] Dwight D. Eisenhower: http://www.whitehouse.gov/history/presidents/de34.html

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