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Pete: 
 
A very interesting chart picture.  I took your clue 
and drew an ellipse over daily action near to your 
slant.  Perhaps 2 points of resistance, green line or 1/2 of 
ellipse size and also of course the ellipse periphery. 
Have enclosed it. 
 
Jeff 
 
 
 
Pete Lieber wrote:
  
  The
S&P rallied to a Friday intermediate high and failed. 
   
The S&P has pretty religiously adhered to 22.5 degree downtrend
lines (see attached chart) 
  
   
  
  
   
   
   
  
  
   
 
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