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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: Tom Byron who wrote (12179)9/23/2001 5:03:25 PM
From: sea_urchin  Read Replies (1) of 80976
 
Guree, I don't understand what the chart is all about --- it's composition is too hybrid for a simple mind like mine.

Nevertheless, what the chart implies is that the S&P could fall back to the lower parallel line ie to the region 500-600, on the scale. You will note that this is the approx. point where the index accelerated on the way up.

This is therefore a similar price level to the Dow falling back to about 4500. For what it's worth, I have also considered such an event but I must say that that is one helluva long way down and I'm just not prepared to say it could happen.

A simpler S&P chart is available at yardeni.com under Chart groups, Markets. I do remember that he once upon a time had a much longer chart but that's now a thing of the past.
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