I'm with murray t on the S&P... it looks like prices spilled out through the downward trend channel that's been going on for the last few days. Look for rising prices confirmed with volume next week. However -- if S is found I personally don't think prices will rally with the same vigor as they have been declining -- but that's for the market to decide, not me. JT
Excuse me for saying so but wouldn't that have been evident by the much higher open (over thursday's close) and the move higher off of the open comfirming the beartrap on the S&P and the Nas100. When NQ broke above 20 shortly after the open it was getting out (above) the top line of it's downtrend channel on the 60 minute chart. It was tipping it's hand then and there foretelling the intial squeeze to 27ish just for starters. Looked like support to me. Will it hold? Don't know - don't care.