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Chart of the Day
For some perspective on the latest stock market action, today’s chart presents the current trend of the S&P 500. As today’s chart illustrates, following the October 2007 peak, the S&P 500 traded within a relatively narrow downward sloping trend channel. That trend was interrupted by a historic financial meltdown. Since the meltdown, the S&P 500 has resumed trading within the confines of a trend channel (albeit in a volatile fashion) and is currently testing resistance.