SPX - OUTLOOK & COMMENTS, Thee future ? Options

[mss]

01/26/08 at 11:12 PM
Not going to try and predict where or when the market will change from Bear to Bull or the other way around depending on what you think at the moment. THE MARKET IS VERY WEAK. Will it bottom here or will it bounce around for several weeks? All depends on the data you look at and your trading time frame.

All that said, here are the most likely levels of support and resistance for SPX for this next week, Fridays close being the rotation point.

1409, 1391, 1376, 1340, -[1330.61]- 1325, 1285, 1277, 1246, 1216, 1180

Notice the range, top was 1409 and the bottom was 1180. I see nothing as of this weekend that changes that range, in fact, a bounce is just around the corner and another fall behind it.

The market is on a very thin base, real or imagined.



The BLUE channel defines the down trend and the RED box, at the present, defines the price-time frame. The box is subject to change more than the channel, per my analysis.
Best to all and comments welcome.
mss