an tSionna {09.23.11}

From Chart of the Day regarding the Nasdaq:

"The Nasdaq is currently down 14.5% since putting in a secondary peak 11 weeks ago. For some perspective on the current state of the stock market, today's chart presents the prevailing trend of the Nasdaq. As today's chart illustrates, the Nasdaq has been and continues to trade within its 17-month trend channel. However, the recent selloff has brought the Nasdaq down near support (green line) which is currently being tested."

*Long ETFs related to the Nasdaq in client accounts.

Link:  Chart of the Day: Nasdaq.

A brief note:  I'll have more to say about what has happened with the market next week.  I want to see how today trades out and spend the weekend doing some research on where we might be by the end of the year and by year end 2012.