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The Simple Accountant
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Harry Fotopoulos is a semi-retired accountant with a focus on income oriented portfolio strategies

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  • Chart of the Day 0 comments
    Mar 10, 2011 10:26 AM | about stocks: SPY, IVV

    Yes, it's early, but I wanted readers to be aware of a possible technical breakdown on the SPX daily chart. I have been watching a developing descending triangle in recent days; in the first hour of trading this morning the index has broken through the lower support line as well as the 50 day SMA. Let's see how the rest of the day goes...this could be the beginning of a textbook bearish move. Be alert if you are long equities!

    Stocks: SPY, IVV
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