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Chart of the Week: SPX (one year)

Posted By Barry Ritholtz On October 4, 2004 @ 1:15 pm In Finance | Comments Disabled

As the chart below reveals, the S&P500 has been suffering in a downtrend all year. Friday’ action finally broke the index above that trendline. Similar charts of the Dow and Nasdaq, however, do not show a breakout (yet).

SPX Chart (one year)
click for larger chart

Spx_break_out_1_year_100404 [1]
Source: IQ Quotes

Whether that breakout sticks will likely be determined by a few economic releases this week, most notably Friday’s Employment Situation report.

Random Items:
Election? What election? [2]
The looming national benefit crisis [3]
The Dragon and the Eagle [4]
This Way To The Future [5]
Haute Con Job [6]
Horse Racing and the CIA [7]

Quote of the Day:
“In the realm of ideas, everything depends on enthusiasm; in the real world, all rests on perseverance.”

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

URL to article: http://www.ritholtz.com/blog/2004/10/chart-of-the-week-spx-one-year/

URLs in this post:

[1] Image: http://bigpicture.typepad.com/photos/uncategorized/spx_break_out_1_year_100404.jpg

[2] Election? What election?: http://cbs.marketwatch.com/news/story.asp?guid=%7B304A1882-1D3E-4CA6-9033-F1158227DADB%7D&siteid=mktw

[3] The looming national benefit crisis: http://www.usatoday.com/news/nation/2004-10-03-debt-cover_x.htm

[4] The Dragon and the Eagle: http://economist.com/printedition/displayStory.cfm?Story_ID=3219358

[5] This Way To The Future: http://www.businessweek.com/magazine/content/04_41/b3903402.htm

[6] Haute Con Job : http://www.pimco.com/LeftNav/Late+Breaking+Commentary/IO/2004/IO_Oct_2004.htm

[7] Horse Racing and the CIA : http://www.investorsinsight.com/article.asp?id=jm100104

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