Will the S&P break support? - Business, Finances and Investing Forum

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Will the S&P break support?

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11-19-2008 , 04:29 PM

Max H

veteran

Join Date: Jun 2008 Posts: 3,131

With about 1/2 hour until close, barring a rally, the S&P 500 will close below the support level of October 10. If so it could be facing at least another 10% downside. This last half hour will be exciting either way.

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11-20-2008 , 05:30 PM

doncolo

journeyman

Join Date: Jun 2007 Posts: 282

I think it's gonna break it.

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11-20-2008 , 05:37 PM

Max H

veteran

Join Date: Jun 2008 Posts: 3,131

Quote:

Originally Posted by doncolo

I think it's gonna break it.

That 10% downside looks like a lock.

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11-21-2008 , 02:54 PM

suzzer99

Save the Cheerleader, Save the World

Join Date: Nov 2005 Posts: 100,415

What happens when the S&P breaks support, but the DOW is still holding? Or vice versa? S&P wins?

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11-21-2008 , 03:11 PM

ahnuld

Carpal \'Tunnel

Join Date: May 2005 Posts: 17,592

not a technician whatsoever* but I cant see how the dow matters much when it is 30 stocks vs the largest 500 in the united states

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11-21-2008 , 04:48 PM

Tony Lepatata

old hand

Join Date: Jun 2007 Posts: 1,996

yes

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11-21-2008 , 05:39 PM

suzzer99

Save the Cheerleader, Save the World

Join Date: Nov 2005 Posts: 100,415

Thanks, just wanted to make sure.

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