At The Close by Teresa Lo
ARTICLE SYNOPSIS ...At The Close by Teresa Lo
Looked At Market Sentiment Lately?
The volatile markets make for uneasy market participants. Keep a calm, cool, collected eye out and don't get swept away by the hysteria of the crowds.
IN the summer of 2002, market participants anxiously watched the apparent neckline breach of a massive head & shoulders top formation on the Standard & Poor's 500. From the March 24, 2000, high of 1,552.87 to the September 21, 2001, low of 944.75, the pattern measured 608 points. Subtracting that from the neckline at 944 produced a downside target of 336 (Figure 1).