1 reply to this topic

[eminimee]

If so.. the last three, (2000 was close but no cigar)...but good chance lower lows lie ahead. 1327 looks like a nice target to me.

http://stockcharts.com/c-sc/sc?s=$SPX&p=M&yr=8&mn=11&dy=0&i=p02083705897&a=79778681&r=8134.png

[eminimee]

Another thing that looks probable is the fact that in 2004, SPX turned down from it's . 50 retrace mark and headed down to backtest the .382. Now we have OEX turning down from the .618 mark and will more than likely backtest to it's . 50 retrace mark near 616. So SPX may not make it all the way down to 1327..spx will bottom when OEX bottoms....

http://stockcharts.com/c-sc/sc?s=$SPX&p=M&yr=8&mn=11&dy=0&i=p02083705897&a=79778681&r=3046.png

http://stockcharts.com/c-sc/sc?s=$OEX&p=M&yr=8&mn=11&dy=0&i=p02083705897&a=99552000&r=8889.png