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Potential Bear Market

 
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PostPosted: Sat Jan 12, 2008 11:35 pm    Post subject: Potential Bear Market Reply with quote

SPX traded entirely below its 80-week MA last week, for the first time, since it rose above that MA in 2003. Also, SPX tested the August low, at 1,370, on higher volume, which is bearish. Consequently, if SPX 1,350 fails to hold, a further fall to at least 1,250 (a major congestion area) may take place, perhaps within the next month or two.

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