By Doug Short (Guest Post)
The S&P 500 broke the string of down days (seven) with a modest gain, up 0.50%, but this came after a mid-morning intraday low down 1.55%. The index is 7.57% below the interim high set on April 29, but it has popped back into positive territory for 2011, up 0.21% year-to-date. From an intermediate perspective, the index is 86.3% above the March 2009 closing low and 19.5% below the nominal all-time high of October 2007. Below are two charts of the index, with and without the 50 and 200-day moving averages. These charts are not intended as a forecast but rather…
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