Monday, January 21, 2008

$SPX near it's exponential trendline at 1306

4 comments:

john said...

Mark,

thanx, from a novice, I expect panic tomorrow.

old john

mlytle said...

John,
Yes, you're absolutely right..

Mark

john said...

Mark,

I looked charts for 1987. Took 8 or so days to find a bottom which was later tested in a few weeks. I am sure you did your homework also.

mlytle said...

John,
If the markets sell off 5-6 % tomarrow like the rest of the world did today, that will put the $NDX at about it's March 07 bottom and the $SPX at about it's June-July '06 bottom...the markets may bounce or find support there..

Mark