Support and Resistance...and for the fun of it look at daily and weekly and monthly Moving Averages.
Resistance
Dow Jones: 7450 then 7900 then 8200 then 8600
Spx: 709 then 725 then 750 then 781 then 812 finally 843.75
Dow: 6250 then 5800 then 5425 then 4000 then 3500
Support: 625 then 602 then 574 then 557 then 462 then 400.
Why is everyone making this so complicated.
Do you believe the gov. somehow is going to wake up monday morning and say "ah ha, I know how to fix this so our market can rally back and everyone can be so happy and everything will be splendid".
From a logical point of view the Gov. will get mark to market wrong and the bank asset removal all wrong...why, because they have given absolutely no reason to belive the contrary. People are starting to sound like abused wife's whom rationalize that things will get better, or he still loves me, or he said he was sorry. Dear lord, what will it take for you to see that we are being bent over and then being asked to pay the very person that just raped us.
And another thing, NM has been calling for this rally for how long now??? To give him credence on his ability to call a bottom or a turn is absurd. He makes money that is true, and we applaud him for that. But for the love of God his logic and belief that he holds the keys to the truth of the market is a fallacy and will injur all who try and follow his rhetoric. NM i love you but the arrogance of some of your posts need not be so inflated or to be constructed to reflect an absolute truth that you project onto the market action. Although entertaining and marginally educative, ultimately useless to anyone else but yourself.
Let's stay focused and be ready for whatever the market hands us!
Market Data 
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