weekly SPX chart

poll participants at this site many weeks ago favored by a healthy margin:

that SPX weekly closes above 1338.80 major price horizontal prior to the election would be absent

http://stockcharts.com/h-sc/ui?s=$SPX...id=p70964469463

so far, the FF group here has been correct about that.

at this point, bulls would appreciate a weekly close above the down trendline off the May 1440 high

I would post a link to the prior poll if I had the time to find it...I initiated that poll if someone wants to look for it...I am relying on my memory about the voting results

Edited by hiker, 28 September 2008 - 01:19 PM.

some daily closes in the upper BB on the daily chart would be encouraging to bulls -

Monday needs to close at least above 1228 to accomplish that

http://stockcharts.com/h-sc/ui?s=$SPX...id=p80826140150

fyi, 1243 is the current value of the declining 200sma (where price reversed during the most recent rally) on the 60 minute chart

Edited by hiker, 28 September 2008 - 02:09 PM.

since the poll was taken many weeks ago:

the distance that weekly closes reside BELOW the 233-wk sma has been increasing -

http://stockcharts.com/h-sc/ui?s=$SPX...id=p84283758960

in May, poll participants overwhelmingly said for the Dow:

12,000 before 14,000

the Dow recently put in a swing low of 10459 before seeing 14,000 since the May poll

more evidence poll results here have merit

link to Dow poll in May -

http://www.traders-t...?...c=88193&hl=

Edited by hiker, 28 September 2008 - 02:46 PM.