menards background and experiences forshadowed those who would shortly follow him into congress. he was young. the he was just 30 years old when he made that speech on the house floor. like a lot of the men who would follow him in the 1870s and 1880s. he was born into a mixed-race family. he was exceedingly well-et educated. and like all those who would follow him in the next decade, he was from a reconstructed republican government in the south. and as did menard, african-americans elected after him found allies among republicans on capitol hill. menard's contested election too was a preview of what awaited other black politicians. such cases sky rocketed in the late 19th century, particularly in the south. and black representatives were profoundly affected by these contested elections. three of them, joseph rainy, wall is of florida and richard kain of south carolina all lost contested elections. five other african-american members of congress spent valuable time and resources to defend their contested seats. missing opportunities to introduce legislation or to speak on the hou

that's an important development which does forshadow, let's say, more things to the down side. guess the thing to do is figure out how far down of course. so what i brought is other lines and if you look at same chart, drawn a different way, support starts basically at may peak of last year, at 1370 and goes down to about 1340. it is a mattress top and you sink in to support. that's all quite well and good. so 13040 would be the objective for support in this case. then worst case, and this is what the third chart looks at, is where we are and how far we have to get before we came down to the all important smoothing mechanism. that's down at around 1275. it is moving quickly though, so the implication is 1285. >> wouldn't you have to have something fairly dramatic happen at this point? at some point, if the technicals and fundamentals align together in a negative way, then you could have real trouble. if this is a simple technical pull back, it would be hard -- >> we are talking about a 10% give back. 1340 plus minus levels are a reasonable objective. i think that's what one can