Today's Breakouts & Breakdowns (10-10-08)

By John C. Lee | October 10, 2008 | 9:41 PM | 0 Comments

There were 22 new highs and 4,340 new lows made. We had no breakouts and we had hundreds of breakdowns. If this keeps up, I’m going to have to change the title of my articles to ‘Today’s Breakdowns’. That’s it. No point in having the word ‘breakout’.

I’ll do a separate article on today’s market action and what can be expected as early as Monday. I think we have a good thing going in terms of the technical signals that I see.

Here are breakdowns with comments for future reference. Since the vast majority of stocks are already in free fall, be aware of these patterns in the future because they are all the same.