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To: Michael Watkins who wrote (82042)	3/18/2001 8:03:50 AM
From: dpl	Read Replies (1) \| Respond to of 436258

Or maybe we decline to 900 and run back to 1200 to form the right shoulder of a bigger H&S? Note 1998. David

To: Michael Watkins who wrote (82042)	3/18/2001 1:14:58 PM
From: Perspective	Respond to of 436258

Funny, SPX 900 also happens to be where the 1990 TL stands. Look at the TL formed by the 1987, 1990, and 1994 lows (plus several before). I consider this to be THE strongest support line in force for SPX. Why? Not only does it connect several lows of significance, it also forms a line clearly in parallel with the entire 1980s-90s bull (ie "all of modern history" <s>) - before the bubble formed. Amazing how things are lining up to support the SPX in that area - measured head and shoulders move, plus the late 20th century uptrend line. Likely support? You bet. Will it hold long term? Unknown. It's a good place to cover for a while and observe. If this TL fails (and I give it better than even odds of doing so), then something sinister is indeed afoot. What would the next downside target be? Maybe the launching pad for the bubble - SPX 450. Oh, how odd and very unexpected! <s><g> That just happens to place a bottom on the line that connects 1932, 1942, 1949, 1974, and 1982. I can't believe some on this thread continue to ignore the valuable decisions that can be made using charting... For a graphical aid, I'll refer to Allan's work: geocities.com BC