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.