Where will the market go next week, September 23-27, 2002?
Next week, September 23-27, 2002, looks like it will be sideways to down. We are going to use the lower Bollinger band as our support marker. That puts support at about 840. Resistance is at about 870, the 18 day moving average. Looks like the lower Bollinger band will be followed downward. If it were violated, some upside would be indicated. Otherwise we should see the price hugging the lower Bollinger band lower. Check the charts and see what you think.
Bigcharts.com

Rally? Surely doesn't look like one now. Price crashed through support after support to finish the week at 845. The trend line was broken. Last week also finished well below both moving averages. The dead cross in early September has proven to be definitive. The chart is looking more like the familiar autumn pattern.

The stochastics show that market is very oversold. So the early part of the week could see some upside to correct that condition..

Last week the VIX was uncharacteristically above 40. It looks like the nature of the VIX as an indicator is changing.