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A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Friday, February 6, 2009

$SPX


Okay, let's take a lokat the general picture wth the S&P. her's a long-term look......

Looks like support at the 794 50% retracement line.
It is somewat significant that the most recent highs of 2007 WERE higher than the highs of 1999-2000.

So, plainly if we break support here and say make lowere lows t is pretty easy to see 610. OUCH...

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