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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (187874)	3/3/2009 8:32:49 AM
From: Poet	Respond to of 306849

Bobcor posted an interesting chart...and some thoughts....here last night.

To: DebtBomb who wrote (187874)	3/3/2009 9:16:17 AM
From: ajtj99	Read Replies (2) \| Respond to of 306849

I think it may be easiest to just use the KISS system. 2000 SPX high 1553 SPX. 2002 SPX low, 775 and 768, which represented a 50% re-trace off the high from zero and a re-test respectively. The 2007 high on the SPX was 1576, effectively a test of the 1553 SPX 2000 highs. We just tested and breached the 2002 50% re-trace levels last fall. The re-test failed last week. Typically when that occurs price will continue to the .618 re-trace area, which is at 593 SPX. There is little in the way of historic support in the range from 500-SPX to 741-775 SPX, so the .618 re-trace is the best hope for stopping the slide down the elevator shaft.