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Strategies & Market Trends : Classic TA Workplace
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To: skinowski who wrote (138875)11/27/2006 12:24:37 PM
From: skinowski  Read Replies (2) of 209892
 
SPX is at the 144 period moving average on the hourly chart, which was quite supportive during the part of the rally starting last August. There are more support levels here... The lower line of the regression channel since July is here... Also - the 78.6% retracement level of the 2000 - 2002 bear market (1385). It acted as a bit of resistance on the way up - now, it's trying to act as support.

So far, this has the potential of becoming the longest red stick since last summer.
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