Here are the Monday thru Friday historical S&P stats for this week from Mike Burk:
0.80% -0.72% -0.33% 0.47% 0.39% 0.60%
Here's what we got so far:
0.32% -1.84%
We are 1.44% behind.
Those trend lines are just below.
We don't have to get there this week.
If we can hold them it will take some work to get back to that downtrend line.
See the action around the '06 low where price tested the uptrend line and rallied,
then after a couple of weeks tested it again and only then broke the downtrend line.
If we break through the long up trend line it won't be pretty.
http://stockcharts.com/c-sc/sc?s=$SPX&p=W&st=2004-06-01&i=p16672177806&a=58427056&r=3254.png
But the "Sirens" are calling the sailors.
Delmar O'Donnell: Them syreens did this to Pete. They loved him up and turned him into a horny toad.
Delmar O'Donnell: We thought you was a toad!
Pete: What?
Delmar O'Donnell: [leaning in, speaking slower] We thought you was a toad!
Pete: No, they never did turn me into a toad.
Delmar O'Donnell: Well, I... I... I gotta get the family farm back before I can start thinking about that.
PS: The smart feller who played Delmar in "O Brother Where Art Thou?" is Tulsa native Tim Blake Nelson.
Just makes me proud thinkin about it.
Edited by Rogerdodger, 09 January 2008 - 11:55 AM.
