Thursday, February 7, 2008

Update of the broader market index - BG40 unwid.
Targets are set at the projected Descending channel bottom ~ 290 below the strong Support ~350.
What is named Yearly Support ~~ 350 is a mistake as it solid Support because of the Upside gap and the recent low -
- however ~ 270 - where is the projected Channel bottom marks another confluence of technical levels -- predominantly the June 2007 Low which formed a base for the followed bull run -- this should be a very emotional level as it was the first test and I expect a major turnaround after that Gap is closed.

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