http://stockcharts.com/c-sc/sc?s=$NYA&p=D&yr=0&mn=11&dy=0&i=t56698944715&a=95622208&r=3926.png
Here's an "aerial" snapshot showing the origins. Respect of this line was shown Friday EOD.
I wanted to strike another line thru 4418.62 (3/12/03) and 7708.49 (6/13/06), but in adding this other new line, I corrupted all of the work on this chart and I had to recreate everything. (One must be very careful with Stockcharts to restore time and size parameters before resaving the new work.) Maybe I'll work up enough nerve and will to do it... it really needs to be here now.
This end-of-week support could be one good reason to not be holding shorts this weekend. You can probably guess where I'd like to short, though.
Edit: the Market Meanies could just gap below this line and seal off the borders for the corrective move. I just can't play for that move.
Edited by spielchekr, 04 March 2007 - 12:41 AM.