Discussion in 'Index Futures' started by S2007S, Aug 6, 2007.
Not looking good. This index is not looking good at all. New lows could be here by 4pm today.
not good....all indexes following.
This has been happening for some time.
The smaller companies are having more losses than the bigger ones.
Easily seen comparing Dow Jones vs. S&P 500. The DJ is less weak.
makes sense. these companies have the lowest quality debt and are hurt the most by the rising junk credit spread environment.
It would take 200bp of fed rate drops to bring their debt situation back to where it was 4 months ago.
classic hammer formation could be occuring on the daily chart.
right now it looks very promising. A hammer at the end of a downtrend is a reliable turnaround indicator
That hammer is on every single previously 'hammered' equity sector chart out there.
Looks like the 'hammer' has hammered out another short term bottom.
Its a reliable indicator
Separate names with a comma.