The answer is ... "a very important testing level" as you will see in the
chart below.
There are two important testing levels being faced at the same time now. The
first is the April 7th. Weekly High of 2795.35 needs to be taken out and then
second, the Fibonacci 50% level of 2806.20 needs to be taken out.
The question for analyst is: Will this turn out to be a double top, or a continuation
move that goes beyond the double test resistance levels?
Marty Chenard is an Advanced Stock Market Technical Analyst that has developed
his own proprietary analytical tools and stock market models. As a result,
he was out of the market two weeks before the 1987 Crash in the most recent
Bear Market he faxed his Members in March 2000 telling them all to SELL. He
is an advanced technical analyst and not an investment advisor, nor a securities
broker.
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