3SOF

Nice 2 day move up from the lows, but, closing right against the median trendline which could be some major ressistance. Good report from IBM and not so good economic??? Which way do we go form here

The S&P found support Thur. @ lows at or near the 61% retrace and closed nicely for the day. Friday's bad data didn't make much difference with a really nice rebound. Not sure just how far the rebound may take us at this point. We have broken below the 2003 Bull Market trendline, below the lower support trendline, and have created a nice down channell that could take us lower. The lower parrell white channell lines say we could go too around 1150/1160 "if" the move up form here does not continue... I guess time will tell...... Good trading too all........

The SPX is at, or near, trendline support. Looking back at past indicator performance says that we could be nearing a ST bounce, maybe as soon as today??

Pull-back too major trendline support.

The DOW found support at the lower TL (10,350) and has now made a nice 200 dollar move too the down TL. It will be interesting too see where we continue the move up or have met ressistance at the TL ??

The S&P found support at lower TL (1205) and has made a pretty nice 20 dollar move and stopped today right on the down TL. It will be interesting too see if the move up can continue ??

Just a thought ??

Long term chart of the SPX.

I also had a "buy" signal Thur. 22nd. on the Dow as it found support at the lower trendline. CCI has not dropped as low as previous "buy" signals,,,, so we could possibly see some more dicline next week. I also got a bad "buy" signal in mid Mar with the CCI at the Yellow caution line. Will know next week......

First attempt too post a chart here,,,,, hope it works.......