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Chart of the Day
For some perspective on the current stock market correction, today's chart presents the current trend of the Nasdaq. Today's chart illustrates that, since peaking in October 2007, the Nasdaq has traded within the confines of a downward sloping trend channel. Due in part to the recent intervention by the Federal Reserve, the Nasdaq is trading above its recent lows. However, the Nasdaq has yet to break through resistance (though it is currently testing - see red line) and therefore remains in a downtrend until proven otherwise.
Notes:
- Will the stock market correction continue or is it set to rally? The answer may surprise you. Find out now with the exclusive & highly regarded charts of Chart of the Day Plus.
Source - Nasdaq
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Quote of the Day
"Ride the horse in the direction it's going." - Werner Erhard
Events of the Day
March 21, 2008 - Good Friday
March 22, 2008 - NCAA women's basketball championship
March 23, 2008 - Easter
April 01, 2008 - April Fool's Day
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