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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (15473)10/3/2001 3:35:01 PM
From: Doppler  Read Replies (1) of 209892
 
Look at the weekly SPX. Draw the parallel down channel that contained prices from May until August. (The one we finally broke down out of about 1100). It retraced back up to it once and was turned away. It is now right up against it again. The horizontal resistance from the March lows comes in right here. FWIW it looks at least temporarily like a lot of Ninjas are waiting to pounce.
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