after the oct 18, 2002 op-ex, the $SPX continued to move up off the october low. however, the similarities to the january move can't be denied.
the $SPX can still move to 900 before resistance is met. both it's IT downtrend lines connecting the 12/02 and 01/03 tops, as well as overhead supply, form these levels.
finally, JW's chart on the NDX argues for more upside as its' IT downtrend line has been broken.
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