Alert! New SPX chart! Turning point soon!

Discussion in 'Trading' started by jackstone54, Apr 15, 2008.

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    I believe its all going to depend on JPMorgan and a few others tommorrow. If price falls through the trend line, then it will be good times once again. However, a close over 44 or 45 could be worrisome for us shorts.

    This pattern is typically not a reversal pattern, but a continuation pattern of the current trend. That trend is obviously down.

    We now have Goldman Sachs on board which has a price target of the SPX similiar to my own.

    Now this chart might be new to some, but a great way to look at the SPX. This is an equal weight chart.