Hey I was wondering if you could make us a similar chart of the S&P. Thanks a lot for that perspective.
Obviously, as far as the trendline is concerned, there is far less history in the S&P. But the 1994 support still remains.
all meaningful support on the dow will only be broken after dropping below 7000. That would be the point the mega bear conquers or mortally wounds the mega bull and the path of least resistance is downward for a significant distance or time to come. And the rise from dow 1000 to dow 14,000 (1983-2007) would end up looking like a monster bubble that ended up with a POP!
Trade Trade Trade... Whatever happens, the market will make some huge moves this week... be nimble and trade with the trend and you'll never go too far wrong.
And even if it did, you'd be down 86%, instead of 90%, in your monopoly money, paper trading 'Baby Einstein Investing Portfolio.' But keep pretend buying and bragging about it (after blowing up atg least 9 times in 9 months) when there's downward pressure due to increasing redemptions and margin calls. WERD!!!