Replies to post #33068 on Abet Chichi2 (Chichi2)

[DiscoverGold]

Weekly Technical Comments by Art Huprich - Friday Morning 11/21

"...I see that the SPX (752.44) violated its low from 2002 and closed at its lowest level since 1997 –having erased, for the “buy-hold and forget about it” indexed account, more than a decade of gains! However, at this point, the SPX is the only major stock market index to have done such.

Therefore, I want to see how the SPX closes on a weekly basis and even possibly, a monthly basis, before passing judgment. Consequently, between today and possibly month-end, as Chief Investment Strategist Jeff Saut said yesterday, “it’s kiss and tell time” for the SPX, in my opinion.

In the meantime, the DJIA (7552.29) is sitting between 20 and 354 points above its intraday support lows of 7532 to 7198 from 2003-2002. I’ll say it again, “it’s kiss and tell time” for the DJIA as well."

For full technical Commentary and Charts:

http://www.rjf.com/technical_commentary.asp

George.

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