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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (52083)	6/20/2013 4:49:35 PM
From: SI User	Respond to of 220483

y, i was saying needed to close above 1595 to help bull case, sorry was not clear. I think that's what the horiz line i put in the chart today represents that level +or- 2 . line goes back to early May tops, and actually back in time before that as well. edit -- added 1462 h line for reference

To: GROUND ZERO™ who wrote (52083)	6/20/2013 5:44:37 PM
From: SI User	Read Replies (1) \| Respond to of 220483

I decided to get my pencil out and draw a finer line. The bull/bear number for SPX appears to be 1597.50. That's now resistance after today's close. At least using one method. Horiz lines of support and resistance are popular for many people, i.e. those who like to keep score. IMO, this line is an important technical (and emotional) level Hope this clears the question up, in case anybody was confused. Or cares. Which I doubt. Nobody cares about a prediction any more than they care about their own. Unless some other person's prediction is wrong. Seems like some folks care about those A LOT. LOL. Unclear where summer low will be, but I think it will be 100+ points lower than today's close. Still developing, but for now, 1462 is still my working number. I hope the dip is more shallow than that. We shall see.