Replies to post #47464 on S&P 500 & Nasdaq Analysis and Trends

[rayrohn]

take a look at the weekly chart



so far we are just testing the break out off the down trend line from jan 27th high ... if the sox fail the test then I would say a test of the up trend line off the Oct 2002 low is possible (around 450) .... a break of that trend line would IMO would confirm a Major top in the SOX's JMO