Stuck in the same old trendlines...

Comment

Comment by Mark Lytle on March 5, 2010 at 2:43pm

I would add though that on the $spx chart, as you can see, the previous support line is now poised to be resistance...don't know if it will be respected or not...

Comment by Mark Lytle on March 5, 2010 at 2:32pm

O.K. Here's the $RUT...very crude chart, not cleaned up yet...

Notice that it's previous main underlying support exponential trendline had failed after the January high..The $spx and $ndx didn't show that pattern....I think it will be the $ndx chart that will show us the next market high as it did in January...

Comment by Steven Vincent on March 5, 2010 at 12:38pm

Have a look at RUT, which is breaking out to new highs.