Dow

[ananda77]

The old bottom (7500) which is now a resistence level has been respected..

....hmmmm interesting...sort of dampens this latest media hype of a quick large bearmarket rally

...after the strongest 7-trading day SPX500 rally since 1939 (20%) topping at SPX500 *803, the SPX500 in the short term:

-support *735 (50% retracement of the March 09 rally) holding >target SPX500 *875

-support *735 broken >target SPX500 = 61.8% retracement 1973-2007 rally *640; July 1996 low *606 possible;

...just one of many interesting facts for the short term view of a bottom:

-Selling climaxes occur when a stock makes a new 12-month low, but then closes the week on the upside

Long Term: no more than a breather from the long term bear market still unfolding

Trading Strategy: sideline until resolved (safest) or if SPX500 short *791 >use stop

Kind Regards