MG, Re: Mo' Pain
I believe I've been saying since before summer that we would visit the 50 week EMA. Well, we be here! Sure wish that I had just heeded your advice last April and just gone on vacation. <g>
On OEX, there's a lot of support in this area of 640-646. Horizontal, a weekly trend line, and the weekly EMA. It is important that it holds. Above us, I got the resistance levels at 664, 675, 684, 696 and 708.
Below us, well, as you noted the next accumulation phase is down there. I get the next important support level at 606. This was determined by drawing a trend line from the weekly highs of 7/17/98 and 11/27/98.
I keep looking at that low of last October. Nah, never could happen. Let's just hope that this important support area holds.
Just A View from the Swamp
TB |
