[RT] sp500

To: astrofin@xxxxxxxxxxxxxxx, ntt-list@xxxxxxxxxxxxxxx

Subject: [RT] sp500

Date: Mon, 07 Nov 2005 11:32:31 -0500

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taken from mkt letter

We will concentrate our analysis on the S&P 500 today.

Institutions consider the S&P 500 to be a good measure for the strength of our economy because of the diversity of sectors it is able to represent.

The S&P 500 failed at its Fibonacci 61.8% golden ratio in August and has made a lower top and a lower bottom since then ... so that is a negative.

But ... last Friday, it rose back up to its April/November resistance line and today it will challenge this resistance. You don't want to see the S&P fail this test and make a lower low, for it did, that would mean that a further correction would occur.

If it can close above today's resistance and then rise and close above its next resistance line, then the S&P would be poised for a strong move to the upside.

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