Just another weekly chart suggesting weakness is still here. A series of nice bounces should be in play for the next few weeks, unless something changes.
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, close being the rotation point.
1409, 1391, 1376, 1340, 1330,1325, 1285, 1277, 1246, 1216, 1180
Nothing really new.
mss
