So ? That does not break the trend or any other indicator.
Look at the chart. The strong white line @ 0.35 is major support.
Notice how the stock bounced off 0.42 feww days ago. This may provide a weak support. If it bounces off 0.42 then it becomes a stronger support.
Last edited by Siriusowner; 07-07-2009 at 03:01 PM.
i still think the floor will be .40-.42
Unfortunately, this seems to be the retracement everyone was waiting for. The S&P 500 has retraced about 7.3% from the 950 level.
There seems to be some support at this level (880 on the S&P 500). If it gets broken, the next stop is 840-860. At 840-860 there's the 10 % retracement, lets hope it holds...
Otherwise.... you can figure it out.
crystal ball.....................................
We need much more stimulus money?Thank you Joe Biden! Let's see if we can blow through 8000 and back into the panic of a 7000 Dow. On the bright side, once Sirius gets back to the low 30's, will be yet another, and possibly the final great discount buying opportunity for long players. I think the market may be in for a very rough next few weeks.