As at TODAY it is actually spot on to a very important support level - the 2,779 low of October 1999 which also lines up with major support and resistance levels that were evident in the period November 1998 to January 1999. This is an absolutely crucial level for our market in my opinion. We break through here and it starts to get really nasty with next significant support down around 2,450 (ie the lows of Sept & Oct 1998).
