February 8, 2008
The markets today were hardly worth watching, as we finished the day in mixed fashion. The Dow and S&P finished down while the NASDAQ finished up. But none of the major indices made any progress worth noting. Essentially, investors already had their eyes on next week and whether we will get off to the same start as we did this week. If so, it will be another long and emotional week for investors.
As it currently stands, we are nowhere near hitting oversold conditions, and have yet to see the kind of panic in the markets that is necessary to put in a legitimate market bottom. Until this happens, it is going to be quite difficult for the market to really begin a legitimate rally that investors can put their faith in.
Let’s review the charts…
The NASDAQ was the only index that managed to put in a descent showing today. While up almost a .5%, it was done on light volume and without any bit of certainty as the index traded in a mixed fashion for much of the day.
CLICK HERE FOR THE NASDAQ CHART
The S&P closed down and remains in ‘no-man’s land’ as investors are still incapable of putting faith in to any rally the market attempts to put together.
CLICK HERE FOR THE S&P CHART
We are currently working on adding a new feature to the website called the “Shareplanner Stock Screener”. We believe that this feature will give our readers more tools at their disposal and ideas for various types of stocks to trade and invest in regardless of the market conditions. Stay Tuned!