Taking the “Noise” out of long term charts-

Posted by Chris Kimble on 02/08/2012 at 6:59 am; This entry is filed under S&P 500, S&P 500 Monthly.

 

CLICK ON THIS CHART TO ENLARGE

Ever want to cover your ears due to excess noise and info overload? 

Every once in a while I like to take a 30,000 foot view of the markets in a quiet way, by looking at a long-term Monthly closing chart.  This Monthly chart reflects the 500 index has formed a falling channel, with line (1) being the top of this channel. 

Last year dual long-term resistance stopped a rally at (2).  The 500 index is now making an attempt to break from this channel at (3). 

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