|For some perspective on the current state of the stock market, today's chart presents the long-term trend of the Nasdaq. Today's chart illustrates the degree by which the tech-laden Nasdaq plunged during the dot-com bust (2000-2002). The Nasdaq then rebounded sharply into 2004 whereby it continued its uptrend (albeit at a relatively modest pace) during the real estate boom. Beginning in late 2007, the trend turned sharply to the downside as fears of an outright collapse of the financial sector took hold. As it became apparent that the financial sector would survive, stock prices rebounded sharply with the Nasdaq currently trading fairly close to what was once pre-crisis support (green line). It is worth noting, however, that the post-crisis rally has been slowing over time and is currently approaching resistance (red line).Notes:
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Quote of the Day"Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it." - Warren Buffett
Events of the DayApril 12, 2010 - Pulitzer Prizes announced
April 15, 2010 - Personal income taxes due (US)
April 19, 2010 - Boston Marathon
April 21, 2010 - Administrative Professionals Day
April 22, 2010 - Earth Day - Take Our Daughters & Sons to Work Day - NFL Draft begins (ends April 24th)
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