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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (12068)3/3/2009 1:41:03 PM
From: ajtj99  Read Replies (1) | Respond to of 33421
 
The trading box on the SPX I'm following right now runs from 673-680 to 741 SPX. Price will likely not remain in this range for long before moving down to the 590-600 SPX level, IMO. We'll see.

Look at a monthly Dow or SPX chart and you'll see it's an elevator shaft straight down to the low 5 handles. However, the .618 re-trace off the all-time highs may act as support similarly to how the .50 re-trace did in 2002 on the SPX.


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