S&P 500 (SPX) Rolls Over
During the past 90 minutes, the SPX has rolled
over into a nosedive that my work considers part
of a corrective process that began at Thurs. high
of 1318.16, and which COULD extend into the
1305 to 1300 support zone prior to my expectations
for the emergence of another potent upleg. Only a
sustained break of 1297.50 will argue that the SPX
is heading for a very deep retracement of the
upleg off of Mon.'s low at 1280.74... and only a break
of 1280.74 will wreck and reverse my current
constructive outlook. MJP 04/21/06 3:10 PM 1307.68
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