droblo
Administrator
...en el SP500
1150 (give or take a few points) has been an interesting congestion area for the S&P 500 over the last twelve years. During the summer of 1998 the index briefly rose above this level until the Asian Financial Crisis sent Wall Street diving for cover. The index lost 22.4% from the intraday high in July to the intraday low in October. But the setback was short lived, and the market continued its race to the 2000 peak.
The Tech Bubble finally popped in March 2000. A year later 1150 was the approximate support for a brief rally that ended in the fall of 2001. Over the next several months 1150 served as resistance until the market finally keeled over and bottomed out in 2002 with a successful retest of the low in the spring of 2003.
The rally that followed stalled in the first half of 2004. The 1150 area was a fairly stubborn resistance level until the uptrend resumed in November. In 2005 the 1150 level turned into support during the spring selloff. The index ultimately bounced off this support to an all-time nominal high in October 2007. But the decline that followed morphed into the stunning Financial Crisis of 2008. The 1150 level was a brief blur on the way down to the March 9 2009 closing low of 676.53.
Flash forward to 2010. It now appears that the 1150 area is once again becoming a point of congestion. The S&P 500 hit 1150.23 on July 19th and then went into an 8.1% correction. Last Thursday it squeaked to new interim high of 1150.24 (wow!) and finished the week at 1149.99.
1150 (give or take a few points) has been an interesting congestion area for the S&P 500 over the last twelve years. During the summer of 1998 the index briefly rose above this level until the Asian Financial Crisis sent Wall Street diving for cover. The index lost 22.4% from the intraday high in July to the intraday low in October. But the setback was short lived, and the market continued its race to the 2000 peak.
The Tech Bubble finally popped in March 2000. A year later 1150 was the approximate support for a brief rally that ended in the fall of 2001. Over the next several months 1150 served as resistance until the market finally keeled over and bottomed out in 2002 with a successful retest of the low in the spring of 2003.
The rally that followed stalled in the first half of 2004. The 1150 area was a fairly stubborn resistance level until the uptrend resumed in November. In 2005 the 1150 level turned into support during the spring selloff. The index ultimately bounced off this support to an all-time nominal high in October 2007. But the decline that followed morphed into the stunning Financial Crisis of 2008. The 1150 level was a brief blur on the way down to the March 9 2009 closing low of 676.53.
Flash forward to 2010. It now appears that the 1150 area is once again becoming a point of congestion. The S&P 500 hit 1150.23 on July 19th and then went into an 8.1% correction. Last Thursday it squeaked to new interim high of 1150.24 (wow!) and finished the week at 1149.99.