petercurently we have resistance at 8140, support now at...

peter

curently we have resistance at 8140, support now at 7900.

its becoming quite a narrow range.

in mentioning those events, what I'm getting at is that, at some point, now in the very near future, the market will push up through 8140 or fall down below 7900.

technically it could actually do either from a perspective of just drawing lines on a graph, but one has to do more than just that

as you mentioned, there are indicators. one really needs to look the flow of money, volumes, and possible events.

I personally don't believe the market has reacted at all yet to the swine flu, to GM, to the banks - I really think the market is waiting, watching, and will eventually make a move. the key is, what will that move be. for mine, I can't see a single reason that would push it higher (doesn't mean it won't) and its possible the news that pushes the index higher or lower has not even been thought of yet, let alone reported.

The daily chart of the DOW, to me, has a very similar feel to what it had just prior to October last year, and in January this year.