So the game is rigged… by whom?

The concept of psychological levels were brought up on Skype today.  I remembered one rather eerie psych level that someone at a traders group brought up.  Take note of the bottom of the market with the SP 500 in March 2009.  Many are quick to point out it was $666.  This discussion came up when people were trying to predict the top of the market in May of this year potentially being $1666.  Let’s see that level on a chart…

Scared yet?  Is this who controls the market:

Or is it just a fun level for a lot of traders to think so and key in as their orders?

About the Author Maneshkumar Patel