Consolidation going into the FOMC announcement

Markets traded to weekly resistances: Qs 48 +/-R, DOW 12891.86 with 13000 R, Nasdaq 2422.93 with daily DTL at 2450 +/-. Since Jan and Mar 2008 climactic market actions, I noted that markets will likely be heading upside going into EOY. Now markets are trading at IT pivotal resistances as shown on the weekly charts.

Breaking above the resistances is positive adding more confidence to upside market actions heading to EOY. Earning reports are generally positive than we expected even though we have heavily sold stocks as some financial stocks.

I commented on "Tran" breaking out when it has broken out.

http://investorshub.advfn.com/boards/read_msg.asp?Message_id=27770540

Now, it is retracing to Jul 2007 high trading above Oct 2007. This is a positive technical signal as Tran is leading per Dow Theory which also noted on 4/4.

http://investorshub.advfn.com/boards/read_msg.asp?message_id=28209065

For VST:

Markets consolidated in a narrow range for 2 weeks going into the FOMC announcement tomorrow at 2:15 pm. After the announcement, markets will likely move strong. Nevertheless, we have seen relatively good earning reports especially from international companies, such as "V" and "MA".

It will be interesting market actions even though a pull back is anticipated.

Qs retested the recent high today, near 48 +/- and SPX to 1395 which is at daily R. The SPX daily formation is showing reversal at the ST R 1400 +/-. A pull back going into the next cycle pivot in Jun would be a good vst correction to work off neg D and gaps.


$TRAN & IYT: Markets are showing neg D, and I am anticipating a pull back going into Jun cycle.

$TRAN is also showing neg D.

IYT breakout from 83, and traded near to target 94 +/- R