Monday, February 02, 2009 2:30:41 PM
Wow, that's a great chart, smilinghiker. I think the relative weakness GE's exhibited since the 2002 lows will likely carry over into any drop we have on the SPX.
I think a good gauge for lows may be the NYA monthly chart. The October 2008 low stopped at the 250-EMA and the November 2008 low stopped at the 300-EMA.
During the 2001-2002 bear Jeff on SI used monthly EMA's in increments of 25 in conjunction with the re-trace chart to nail major lows. You can see why he used this.
The Stockcharts numbers only go back to 348EMA, so the 325EMA at 4232 and the 350EMA around 3900 would be the support areas I'm watching. Those line up with about 680-SPX and 625 SPX.
I think a good gauge for lows may be the NYA monthly chart. The October 2008 low stopped at the 250-EMA and the November 2008 low stopped at the 300-EMA.
During the 2001-2002 bear Jeff on SI used monthly EMA's in increments of 25 in conjunction with the re-trace chart to nail major lows. You can see why he used this.
The Stockcharts numbers only go back to 348EMA, so the 325EMA at 4232 and the 350EMA around 3900 would be the support areas I'm watching. Those line up with about 680-SPX and 625 SPX.
http://www.investorshub.com/boards/board.asp?board_id=1613
AJTJ's Market Pulse
Do your own DD. Void where prohibited. Observed side effects include darkening of the stool, spontaneous amputation, and death. Rosebud.
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
