2 replies to this topic

[mss]

Just a few charts of general interest and most have a note on them. The first chart defines the upper and lower limits of trading range on the SPX until some momentum is great enough, or weak enough to break up/down. In my analysis it is suggested that a down trend will continue until 1409 is broken to the up side. To the down side 1220 is a common suggested number, but 1180 is not yet out of play.

LINK TO 7 CHARTS

Comments always welcome.
mss

[mss]

It appears that the boundaries of 1409 to 1220 are going to hold up for a longer period of time. This suggests to me that there will resume a down side bias. Expect a bounce from a low point into early March and then the down slide. HOWEVER, should 1435 by pure chance be taken out, we have a new ball game. mss

[SilentOne]

hi mss, I'm hoping for a slide into March from some high, maybe this week? I would not trust this market to rally here and would only watch if it did. Keeping things light until we retest the lows, whenever that is. Great charts. Thanks. cheers, john