The 1,490 level on the S&P 500 has acted as major support for the index over the past month. So much so that it has tested the level four times now and bounced off nicely each time. The fact that the quadruple bottom occurred bodes well for the market going forward, but the more we test those levels, the more extreme the downside will be if we do eventually break below it.
What do you guys think of this now?
Posted by: Saj | November 07, 2007 at 04:11 PM