I going to weigh in here with a "crumb" of thoughts. If we are not in the start of a Bear market, then we are in one hell of a correction in a Bull market. Quick suggestion as to SPX range - in steps - UP 1340, 1391, DOWN 1285, 1246, 1180 and there is a far off suggestion of 1116. Just something to think about.
The S&P closed on Friday at 1335 and for this week I consider that the rotation point for the price range quoted above. The HRZ lines are self explanatory and the next two days are very important.
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=2&mn=6&dy=0&i=p24019207577&a=128683901&r=8585.png
mss
Edited by mss, 23 January 2008 - 08:53 PM.
