The stock market indexes have been in near-freefall today, with the Dow reaching just under 400 points of decline, and setting a new low price for 2008. However, the indexes appear to be attempting to build a base, with the S&P 500 working to attempt a small rally off the same level as yesterday's low. What an exciting day, to say the least. It still doesn't look like panic, and I'm not sure if this would qualify as the capitulation that many traders believe marks the bottom, but the strong volume and volatility is fun to trade!Wednesday, September 17, 2008
Dow Sets New Low for 2008, S&P Halts Decline at Yesterday's Support
The stock market indexes have been in near-freefall today, with the Dow reaching just under 400 points of decline, and setting a new low price for 2008. However, the indexes appear to be attempting to build a base, with the S&P 500 working to attempt a small rally off the same level as yesterday's low. What an exciting day, to say the least. It still doesn't look like panic, and I'm not sure if this would qualify as the capitulation that many traders believe marks the bottom, but the strong volume and volatility is fun to trade!
