ChartWatchers

Hello Fellow ChartWatchers!

Chip Anderson

Chip Anderson

President, StockCharts.com

This week the markets have started pushing into bullish territory.  John, Carl and Arthur all dig into these new events in more detail, but first let's have a look at the S&P 500 Index:


The blue arrow shows where the latest close, just below 1250, has broken the upper line on the 52-week (260 day) price channel - which is just a fancy way of showing that it set a new 52-week high.  In fact, you have to go all the way back to June 15, 2001 to find the S&P 500 at this same level.  Is this the big breakout we've been waiting for?  Or is this just a temporary, soon-to-be-corrected oversold market condition?  Even though it is a short week for the US markets, some important signals should appear - stay tuned!

Chip Anderson
About the author: is the founder and president of StockCharts.com. He founded the company after working as a Windows developer and corporate consultant at Microsoft from 1987 to 1997. Since 1999, Chip has guided the growth and development of StockCharts.com into a trusted financial enterprise and highly-valued resource in the industry. In this blog, Chip shares his tips and tricks on how to maximize the tools and resources available at StockCharts.com, and provides updates about new features or additions to the site. Learn More