S&P 500 - I think near term bottom is 3050
Updated
You can see in this chart that all the trend lines and channels line up for it. 3050 is also the 0.382 fib level, and the best I can tell that market really likes to stick to these levels.
Ends up right in the trading channel from 2003 and on top of the 2009 channel.
Ends up right in the trading channel from 2003 and on top of the 2009 channel.
Comment
Failed to close above trading channel today after testing it most of the day. Holding right around the fib level at 3385.
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