Boris Market Charts

Analysis of the US stock market using various charting techniques: trendlines, channels, fibonacci and others. The analysis mostly covers ETFs for the major indices Dow Jones, S&P 500, NASDAQ and Russel 2000 - DIA, SPY, QQQQ and IWM. Sometimes individual stocks will also be covered.

Saturday, February 2, 2008

End of the bear market rally

I am quite confident that Monday will mark the end of the bear market really we have been experiencing since Jan 22. The reason: we are approaching huge resistance levels on all indices and their corresponding ETFs. The charts below speak for themselves. The noted levels for each chart are, what I believe, going to be the highest levels we will see on Monday, marking the end of this rally.

INDICES:

Dow Jones, 9Mo chart. Probable resistance level on Monday: 12850
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SPX, 9Mo chart. Probable resistance level on Monday: 1410
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RUT, 9Mo chart. Probable resistance level on Monday: 738
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ETFs:

DIA, 9Mo chart. Probable resistance level on Monday: 128.25
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SPY, 9Mo chart. Probable resistance level on Monday: 140.90
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IWM, 9Mo chart. Probable resistance level on Monday: 74.00
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1 comment:

Anonymous said...

Keep up the good work.

November 11, 2008 at 6:29 PM

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