In "nassacre" (and we really are in the fourth one since February 2000), it is rare that the bottom of a prior box (in this case the 127/1335 area) is breached on a closing basis before the Nassacre has taken its full course. That is why I have the early March bounce being topped at 1327. Within the main phases, we often have structure as well,and even such substructure, more often than not obeys the same dictum, the top of the current box is probably at that 1292, I was thinking we may reach to day (and we still may get there). 1400, will, IMTO, be a reversal, probably leading to 1520 or so being challenged, and maybe even taken out.
Zeev
