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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: Rarebird who wrote (18924)1/6/2006 10:53:01 AM
From: J.T.   of 19219
 
Your post is dead on the money.

Extremely Bullish right at the point of major resistance even looking at it from one of the most stringent tests:

A 10 year chart where the line is drawn right on SPX 1,275.

On a five year basis, old resistance from May 2001 becomes new support.

This is the Bears last stand. If they hold the line today, they will be crushed next week and most definitely
before January 2006 is in the history books.

The conclusion: It is about to be LIGHTS OUT for da Bears.
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