thanks for that paddington. a nice chart. and i guess that...

thanks for that paddington. a nice chart. and i guess that confirm my view that the spx didn't break the january lows but retested the lows set in pre-trade.

however, imo, the weekly chart for the spx isn't set up for that kind of rally as yet. i suspect that the moving averages on the weekly can only resolve themselves with a short term rally and retest of the lows - perhaps similar to the one that occured on the spx in oct 02 to its eventual lows in mar 03.

this link that i posted the other day seems to be a logical fit to what i think i'm seeing on the weekly.

http://ptv-investing.com/spx_cycles.htm