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Chart of the Week: S&P 500 Breakout
Posted By Barry Ritholtz On December 2, 2004 @ 11:57 am In Markets | Comments Disabled
The 10 month consolidation ends with a breakout into a new trading range — and (of course), that’s bullish. Traders should use the double red line as their stop loss — any break of that suggests a market sliding back into the prior range.
SPX Breakout within the larger uptrend channel
click for larger chart
Note that the upper green line of the channel — 1310 or so — becomes the new target.
Year’s biggest shopping day leaves some retailers scratching heads 
Beyond the year-end rally 
Economists Have Advice for Buyers as the Art Market Heats Up 
Acacia Flying Underneath the Radar 
What, if Anything, Will Sink the Global Economy? 
Can Things Get Any Crazier? (pdf)
Quote of the Day
"Your emotions are often a reverse indicator of what you should be doing."
-John F. Hindelong 
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2004/12/chart-of-the-week-sp-500-breakout/
URLs in this post:
 Image: http://bigpicture.typepad.com/photos/uncategorized/spx_breakout_12_2004.jpg
 Year’s biggest shopping day leaves some retailers scratching heads : http://www.decaturdaily.com/decaturdaily/news/041202/sales.shtml
 Beyond the year-end rally: http://cbs.marketwatch.com/news/story.asp?guid=%7B3873731D%2DF235%2D49E2%2DA961%2D41A7564E8843%7D&siteid=mktw&dist=
 Economists Have Advice for Buyers as the Art Market Heats Up: http://www.nytimes.com/2004/12/01/arts/design/01pric.html?ex=1259643600&en=f8662762029fb3a0&ei=5090&partner=rssuserland
 Acacia Flying Underneath the Radar: http://www.streamingmedia.com/article.asp?id=8971&page=1&c=13
 What, if Anything, Will Sink the Global Economy?: http://knowledge.wharton.upenn.edu/article/1090.cfm
 Can Things Get Any Crazier? : http://www.capmarketsinfo.com/ViewFile.asp?ID1=20142&ID2=34807445&ssid=1&directory=6571&filename=Can_Things_get_crazier_12.2.2004.pdf
 John F. Hindelong: http://www.twst.com/notes/articles/has850.html
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