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To: bcrafty who wrote (134237)7/11/2006 4:16:14 PM
From: skinowski  Respond to of 209892
 
index could have began its (iv) on 7/3

Oh yes. Absolutely.

As for critical support, I gave it a little leeway - as low as 1257 - 58. But you are right - the correct level is 1258.64.

The important R at this point becomes the 7/3 top - a little above 1280... and then - the June high of ~1290.

Will be interesting (and, hopefully, profitable) to watch how this rally develops... It woke up the bulls... should have some follow through, imo.