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Article: FirstAlert[tm] 5/15: Market Correction At Hand?
- Article from:
- Investrend
- Article date:
- May 15, 2009
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May 15, 2009 (FinancialWire via COMTEX) -- (Comment on this article at http://www.financialwire.net/2009/05/15/firstalerttm-515-market-correction-at-hand/)
May 15, 2009 (FinancialWire) (By Frank Kollar) -- Last week the S&P 500 Index (SPX) touched its January 2009 rally highs and immediately reversed to the downside. This may have been the start of a correction that has further to go on the downside. Note that the S&P Deposit Receipts (NYSE: SPY) can be traded as a proxy for the SPX.
The stock market advance that began in early March has moved higher virtually unscathed by any profit-taking. While this is good news for those wishing to recover some of the ...