June 25, 2010 Analysis from Chris Kimble
The third and final revision of Q1 GDP was released this morning. Unfortunately the revision was downward from 3.0 to 2.7, which is less than half the GPD of 2009 Q4. In the wake of this disappointing pattern Chris Kimble updates his view of the S&P 500, where he has previously alerted us to the formation of a head-and-shoulders pattern (June 11 and June 16). They're definitely flashing caution, and in the time-honored tradition of the Boy Scouts, investors should Be Prepared!
Chris comments: When support gives way, often times it pays to have a plan of action before the event that can be taken with reason and promptly.
The S&P 500 index finds itself at a multiple support price point, should support not hold, investors might want to have a plan of action and not stick around TOO LONG!
For feedback or more information, email Chris at KimbleChartingSolutions@gmail.com."
