Major long term support is being challenged!
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Born and raised in New York but now living in New Jersey with a beautiful & loving wife, fantastic son and great dog. This site is about the stock market, success and life … [Read More...]
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Trend Trading
I am a trend trader looking for gains of 25% or more and losses no larger than 10% (preferably smaller when I am smart enough to cut the immediate loss) on trades that will last anywhere from a few weeks to several months or longer. I aim to be prepared to trade in situations when the odds are in my favor by properly employing risk management strategies such as position sizing and expectancy.
The more support is tested, the weaker it becomes.
Hi Chris…can you let us know what our next supports are on the DOW and possibly the S&P. TIA, Janet
If the SP500 is any indication the Dow will rip right through that long term support levels…
http://www.market-speculator.com/2008/11/20/castrophe-the-stock-market-crash-of-2008/
I threw up a poll, curious as to what we’ll get for answers.
Janet,
The support is right now on the Dow. The S&P 500 is at 11-year lows, most supports have been blown out!