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Thursday
May062010

Where Things Stand

DateThursday, May 6, 2010 at 07:13PM

The dust has settled on the trading today, so where does the S&P 500 stand?  On a closing basis, it might not be as bad as you think.  As shown in our trading range chart below, the S&P 500 is now just into oversold territory and trading right at the bottom of a one-year uptrend channel.  From a breadth perspective, only 28% of stocks in the index are now trading above their 50-day moving averages.  This is right near the lows seen during the prior big pullbacks over the last year.  Needless to say, tomorrow and the next few trading days will be very important.

 

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References (1)

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  • Response
    Response: What We're Reading ~ 5/7/10
    at Personal finance and investing on May 7, 2010
    Retail investors continue to move into stocks [Pragmatic Capitalist] Tiger Management alum Steve Shapiro

Reader Comments (1)

Thanks for your work, however, in ths instance I only feel a little bit better. The previous drops didn't have the PIIGS overhang.

May 6, 2010 | Unregistered CommenterFat Fingered Sam

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