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SPX 1170ish is Natural Resistence

September 17th, 2008 at 8:00 am by AndyAskey

The bounce yesterday came at SPX 1170 which is a 50% price retrace of the 2002-2207 bull market. The 2000-2002 bear market was about the same range and the SPX 1160 level is the mid-point of that range.

SP500 Index Chart

The 2005 SPX October low was near 1170.  Market geometry is funny like that…

SPX Chart

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