Was SPX 1438.50 the top? It is compelling. The November 2000 high was resistance in January of this year (closing high), top of the red body in February and March high so far. Three more trading days for bulls to invalidate this monthly triple.
The importance of the 11/2000 high (1438.50) is clear as it signaled the de facto end of the bull market with a huge 8% drop in a single month, marking the loss of the 10 monthly moving average for the following 29 months.
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on Wednesday, March 28, 2007 at 3/28/2007 01:45:00 AM.
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