Chart Ideas

[rimshot]

daily NYSE Composite Index (more than 3,300 distinct symbols which actually trade every day):

* bulls want the future price action to establish lasting support at the $8,200 level and above

* bears want the future price action to firmly establish the $8,200 level as lasting horizontal resistance



here is how the same chart looked in June, 2007, to Dec. 1, 2008...
for a perspective on earlier price action relative to the $8,200 level -

* you can see $8,200 became resistance for the September, 2008, bounce which established the upper boundary for the further decline
which lasted into the March, 2009, low....

so, you can consider $8,200 has significant relevance in the price action history for the NYSE Composite Index

(a prior bounce high visible in the chart below - $6,351 - acted as support for the 2010 intraday low which followed the May "flash crash"
... these historic data points do actually have relevance for the later price action)