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The Simple Accountant
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Harry Fotopoulos, "the Simple Accountant" is a twenty+ year veteran of corporate accounting and finance, much of it in manufacturing, but also including a stint with a tech startup. Harry manages two separate portfolios, one focused on current income, the other on total return. A Certified... More
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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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