Stock Market Viewpoint

Stock Market Viewpoint
Reading the Tea Leaves...

Friday, January 28, 2011

Rioting Egyptian Youth or Something Else? 1/28/11

Stock Market Technical Analysis

Click on above image to enlarge

The top chart shown is a 1 1/2 yr chart of the NASDAQ.  The lower chart is a 16 yr showing the same brown line channel.  Tonight the financial media is promoting the idea that today's selloff was caused by the rioting Egyptian youth.  The technical analysis offers a somewhat different perspective.  Interpret it as you'd like...