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Re: Footquarters post# 87823

Thursday, 09/10/2009 10:29:03 AM

Thursday, September 10, 2009 10:29:03 AM

Post# of 388891
It's a tough call here. Looks like the mid BB on the monthly spx lies somewhere in the 1050-1070 area. If anyone can tell me that number is would be appreciated.

Interestingly, the spx jumped right over the monthly mid BB in June 2003. Typically the index we reverted to the mean, so looking at the weekly spx, we should pull back to the weekly mid BB once we hit that monthly mid BB. SPX weekly mid BB is currently 951. At least that's how I am playing it. The economic back drop with another wave of ARM mortgages set to reset in 2010-2011 is not the same as 2004-2005 IMO.

http://stockcharts.com/h-sc/ui?s=$SPX&p=W&yr=3&mn=0&dy=0&id=p71823903559
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