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S&P 500
5,464.62
(
-0.16%
)
US TECH 100
19,220.00
(
-0.20%
)
Dow Jones
39,150.33
(
0.04%
)
Brent Oil
84.39
(
0.00%
)
Bitcoin
64,289.38
(
0.31%
)
Post# of 148479
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ajtj99

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ajtj99

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Re: None

Tuesday, 03/03/2009 9:24:27 AM

Tuesday, March 03, 2009 9:24:27 AM

Post# of 148479
S&P 500 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.

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.

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