the S&P moved down to the 1026 level which corresponded to the median line support. is now moving up smartly in a retracement of the down move from 1099.

Long Term –
the next long term target on the upside is 1209. above that is the 62% retracement of the downmove from the 10/31/2007 high of 1590; it is 1243. a trade down thru 902 will be cause for concern. a break down below the median line will be the early warning.

Daily –
we expected a 1071 target. that 1071 has been met and the next up is 1081. this move up is still inside the 1099 down move. 1061 would signal a new move down to 1041. the current upward pressures end on 11/20.