Ritholtz: Stocks – trapped in a trading range

 EmailPrint This Post Print This Post

Stock markets have improved handsomely over the past three days, notching gains for four consecutive days and registering the first positive week since early August.

Will the rally have legs, or is it merely a bear market bounce?

According to Yahoo Finance – Tech Ticker, The Big Picture blogger Barry Ritholtz is taking it slow, “legging in” to test the waters. He is of the opinion that the S&P 500 Index is in a trading range market right now, with key support at 1040.

“We’ve traded down to that a dozen times, and you see on the chart that every time you hit that, we’ve bounced off of it. People think of September as the dangerous month, but when you have a real bad August, maybe it anticipates it and washes it out of the system,” said Ritholtz.

Source: Yahoo Finance – Tech Ticker, September 2, 2010.

Did you enjoy this post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by e-mail.

OverSeas Radio Network

Leave a Reply

  

  

  

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Top 100 Financial Blogs

Recent Posts

Charts & Indexes

Gold Price (US$)

Don Coxe’s Weekly Webcast

Podcast – Dow Jones


One minute - every hour - weekdays
(requires Windows Media Player)
newsflashr network
National Debt Clock

Calendar of Posts

September 2010
MTWTFSS
« Aug Oct »
 12345
6789101112
13141516171819
20212223242526
27282930 

Feed the Bull