Friday, October 23, 2009

Descending Trendline from 2007 Top

As pointed out by blog reader, Adan, the descending trendline from the 2007 market top is near where the S&P is trading now. If a top is not in now and Wednesday's highs are exceeded, this trendline would be a good target. Today it hits about the 1120 level and falls about 3 points per day.

1 comment:

adan said...

i saw one like that somewhere and can't remember where (to give credit where i saw the idea) -

definitely shows, as ew in the stu often says, what the market thinks is important ;-)

thanks todd