$SPX micro trendlines generated from the seed points at 10/11/07, 3/17/08,and 3/9/09...
You can see the trendlines in this system, that I've highlighted, that have to fail for the bear to fully come back...
The Macro view will be seen later, assuming the decline continues, as on that scale this current change is barely visible...
The Macro view will be seen later, assuming the decline continues, as on that scale this current change is barely visible...
Comment
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Comment by BullBearGirl on October 27, 2009 at 5:00pm
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Thanks Mark.
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Comment by Mark Lytle on October 27, 2009 at 4:12pm
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Hi BullBearGirl,
They are pretty strong, the bounces off of them that helped power the advance over the period from March '09 to nearly the present are visible on this chart, but being that we are real close to a .500 node within my system, and so many breadth and volume based indicators are showing weakness, my guess would be that they will be broken...
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Would you consider these trend lines to be strong support?
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