Let's pan out to the NYSE weekly chart, an important barometer of overall health. We are sitting slightly above 61.8% 2006 (8291.27). Below that, next support is confluence 10 and 20 weekly MA at 8217/8220 and further down, 50% 2006 at 8176. That is the absolute line in the sand for this bull market as it also sits near the 2003 trendline, which is not about to hold up the markets a second time. Watch 8290 level in the immediate future.
This entry was posted
on Saturday, September 09, 2006 at 5:02 PM.
