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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	3/26/2001 12:07:45 PM
From: besttrader	of 37746

SP 1155 seems to very critical. Makes sense to me. (From Crystal)... Here is an example of how 1155 is doing as a four year support level. Note how it bounced the SP from 1155 on the first trip down, then penetrated, now bounced back to 1155. If we can now move on up from 1155, get above 1180 1155 has held support. If we drop below 1081 1155 has failed as support and is now resistance. (Reply) The first bounce off 1155 is unimpressive, and the subsequent drop below is far too deep to be registered as anything but a critical violation of that support. 1155 is now acting as resistance, and will not be penetrated by more than a point or two on this initial thrust up.

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