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(3/15/14)
The S&P 500 has encountered resistance again along the top
of its longer term narrowing upward channel using a log scale. Meanwhile
the lower portion of the narrowing upward channel has been providing support
since 2012 each time a pullback has occurred (points a). Overall the
pattern since the March 2009 low looks like a large Wedge.
 If we zoom in it looks like the
lower portion of the upward channel is around 1800 so that will be a key longer
term support level to watch the next few weeks. 
Amateur Investors
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