Stocks have been hit pretty hard this week and it is time to look at
some charts to see if we can see any levels of support if we continue
to dive southward.
First, we will look at a weekly chart for the
SP500. After briefly breaking above the 200-day moving average the
SP500 has been in a nose dive. We broke through the 50-day moving
average 3 weeks ago and are now well below that level. The next support
level looks to be around the 1325 area and if we break through that
leve...