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Zacks #1 Stocks on the Move 06/19/2013

Company Name Symbol %Change
SONIC FOUNDR SOFO
4.40%
SUPPORTCOM I SPRT
3.75%
UNISYS CORP UIS
3.31%
SHORETEL INC SHOR
3.22%
GREEN MOUNTA GMCR
3.13%
Todd Bunton

How Low Will it Go?

by Todd Bunton

October 25, 2012 | Comments : 14 Recommended this article: (0)

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I'm not a big technical analysis guy, but if you take a look at a 3-month chart on the S&P, you can see clear resistance at the 1460 level:

And since it last touched 1460 on October 17, the S&P 500 is down almost -4%. This marks its worst six day stretch since mid-May.

So the big question has now become "how low will the market go?"

I'd like to take a poll and see where the consensus is on this. So please choose from the following on where you think the recent pullback on the S&P will stop:

1. 1400
2. 1377 (the 200-day moving average)
3. Somewhere between 1300 and 1377
4. Below 1300
5. Right here. We have reached the bottom of this pullback.

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220 Stocks to Sell Today
Free Report for Zacks.com Visitors Only

Overall, Zacks Rank #5 Strong Sells perform 6X worse than the market. Are any of these portfolio killers lurking among the stocks you're holding or considering? Find out today for free.

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