Adam over at MarketClub has put out a quick video on technical levels in the markets. Basically, he points out that there's no denying we're still in an uptrend. But at the same time, it never hurts to have an exit strategy and back-up plan in place should the markets turn sour. After all, stop-losses are one of the most useful tools in financial markets. Here's the video:
He highlights key levels in the major markets and draws the line in the sand as follows:
Dow: 9,835
S&P 500: 1,044
Nasdaq: 2,100
So, all you have to do is keep an eye out for those levels which mark the most recent lows in the market. It's not rocket science, it's simply monitoring the trend. Until those levels are taken out to the downside, the trend remains up.
Monday, March 8, 2010
Key Technical Levels in the Markets
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