Let's discuss about the market. Where we are heading? Lower? Shall we break support on S&P500 at 1163? That's just few questions which we are asking ourself every day. In order to share views of the market among forum members, I am opening this topic. I hope you will support my iniciative. How I see US indices? Late October 2004, after we break through wedge pattern, we have reached new high at 1217. During January 2005 we had correction and S&P500 dropped back to 1163. Another bull's run take us this time higher than last time and we record new high at 1229. That was bullish sign, but unfortunatelly bulls had no power to keep as higher, and S&P500 pulled back into the pattern. That failure we call upthrust and that's bearish sign. After that we had down trend which take us back close to 1163. Shall we bounce back from support? Shall we continue to trade within trading range 1163-1217? Shall we break through support? We shall see. I am expecting from market to turn around 1163 and to start heading north. We might see sideways trend until we break through those boundaries. DayTrader