Major Market 2008 performance

Dogs of DOW 2008

http://www.cnbc.com/id/28448355

Stocks Log Best Year-End Rally Ever!

Santa delivered his rally just in time for the ball drop — and with a bang!

The Dow Jones Industrial Average jumped another 108 points Tuesday, adding to the 184-point gain logged on Wednesday, making it the best two-day end-of-year rally EVER. The record was 115.83, set in 1997.

In percent terms, the Dow gained 3.5 percent in the past two sessions, while the S&P 500 added 3.8 percent and the Nasdaq turned in the best performance, gaining 4.4 percent.

Long Term SPX EW and BKX ~ update

Nov 22, 2008






$SPX EW and $BKX ~ SPX closing at 800.03 bouncing off from 741.02 which is APR 1997 support.

$BKX is trading at 36.91. On $BKX monthly chart, we have two broken formations – Channel and Megaphone RST.

Based on the formations, we could see $BKX retracing to 21 if it breaks 30 support. The worst scenario corresponding VLT SPX target is SPX 500 +/- 1995 breakout level – the worst case scenario into depression with the recent sharp pull back.

http://trend-signals.blogspot.com/2008/11/spx-lt-monthly-twin-peak.html

A bad scenario is SPX finding a ST/IT support at 650 +/- which is the 1996 support level ending the IT wave 3 setting up for IT wave 4 bounce, then resume down trend to 500 +/-. A good scenario is that markets bounce off from the current level SPX 741.02, which is Apr 1997 support level, to SPX 1010 +/-. Then, resume the final target to 500-650. The best scenario is that markets reverse from the current level and trade up to near 1000; then retest the current level with higher-low LT wave 5. The projected time for the worst case scenario to SPX 500 +/- which is 1995 breakout support is in 2010 +/-, which noted in 2007 with cycle analysis charts, for the final low.

With a good bounce into and during 2009 could lead to higher low from 650-750 +/- which is 1996-1997 level support. With the recent volatility, we could have seen the IT Wave 3 low or very soon.

Market anticipation could be the best case scenario at given crisis if we indeed see a strong bounce in 2009 with strong bank/financial rally. We need to see a bottom confirmation from the current financial crisis and sharp sell-off.

The SPX 741.02 is APR 1997 support which could be ending IT wave 3 correction. A reversal from this level to SPX 1000 +/- is Wave 4 target. We need to see a confirmation for the scenario.

EOY trading

Markets have broken above downtrend lines as we can see on Qs, SPX, DOW, NAS after the market rally yesterday while VIX is heading to 30+/-.

Quiet trading in light volume and New Year rally would be a good scenario. Good luck

Year-End Rally

Markets rallied into close trading above the intraday resistances which noted earlier. While we have so much bad news and uncertainty, many are sitting on cash, 3-4 trillions, and wondering whether markets are going to trade lower or to rally 30% from the recent low. 30% rally is from the lower support of the recent trading range. Breaking above the recent trading range will provide the breakout to upside rally of 20% rally to targets which noted earlier.

>>> For quick rally scenario in early Jan 2009, Markets were trading in a tight range for 4-5 weeks. New year rally is helpful breaking above Qs 31, SPX 920, DOW 9000, and NAS 1600 will propel markets to Qs 35 +/-, SPX 1100 +/-, DOW 9000 +/-, and NAS 2000 +/-, respectively. Those targets are based on a strong rally at the beginning of the year going into Obama 1/20 Inauguration which is better scenario than markets rallying after the Inauguration. <<<

We have less certainty going into New Year, but, some are willing to take risk as Bob Dolls noted. Will see how markets will trade, but we could see quick rally to aforementioned targets with break out of the recent trading range as a confirmation.
Good luck

Markets trading in range

Major markets are trading near resistances in premarket, Qs 29.20, SPY 88 (SPX 880). Closing above the resistances is helpful. Breaking below Qs 28.50 and SPX 850, markets will retest the 11/20 lows.

For quick rally scenario in early Jan 2009, Markets were trading in a tight range for 4-5 weeks. New year rally is helpful breaking above Qs 31, SPX 920, DOW 9000, and NAS 1600 will propel markets to Qs 35 +/-, SPX 1100 +/-, DOW 9000 +/-, and NAS 2000 +/-, respectively. Those targets are based on a strong rally at the beginning of the year going into Obama 1/20 Inauguration which is better scenario than markets rallying after the Inauguration.

Good luck

re Tax loss selling

re Tax loss selling ~ it is irrational to sell underperformed stocks to lock in loss unless you have a huge gain from shorting markets or from other business transactions to off set gain.

As we can see, we already have 35-50% loss in overall markets; and, just to lock in loss for the year would be nonsensical.

The Holy City

http://www.youtube.com/watch?v=NXT2wkKosMI

Recession - Unemployment rate

Recession - Unemployment rate

Joy to the World

Merry Christmas and Happy Holidays

Merry Christmas and Happy Holidays even with all bad news! Find PEACE and Happiness.


Divine Joy
Jesus described our relationship with Him as branches connected to the true vine. In a vineyard, grapes are produced when the plant's sap runs through its branches. As Christ's life-giving Spirit flows through us, spiritual fruit will develop. This includes divine joy (Gal. 5:22-23).

To experience this deep spiritual contentment, we must stay closely connected with the Lord. Jesus often slipped away so He and the Father could have intimate communion (Mark 1:35). He was able to endure much because of His fellowship with God and the joy He knew was to come (Heb. 12:2). In a similar way, the apostle Paul overflowed with joy even when he suffered (2 Cor. 7:4). He described a Christian's connection with God this way: "I no longer live, but Christ lives in me." (Gal. 2:20 niv).

Joy will increase when we follow Paul's example and fix our attention upon Jesus rather than upon ourselves or our circumstances The more we abide in Him, the greater our spiritual happiness will be. Our initial reaction to hardship may be discouragement or overwhelming pain. But if we focus on Him and commune with His Spirit, our sense of peace will return. Remember, the Lord promised that His joy would be in us fully when we rest in Him.

What a powerful witness we'll have when the Lord's joy flows in and through us. It's not an earthly happiness but a divine contentment that the Holy Spirit produces in us. Let spiritual joy permeate all you do and say. ~ Stanley

New types of slavery

Gold dig slaving instead of planting crops while many are starving is madness. Gold hype is absolutely nonsense and is a waste. Of course the pictures are describing the wealth gap between rich and poor as well.

Give a chance to Obama hope theory

Choice 1: To give a chance to Obama hope theory.

Choice 2 : To continue economic calamity with job cuts and bad sentiment.

It's nobrain - #2.

http://www.cnbc.com/id/15840232?video=972076719
http://www.cnbc.com/id/15840232?video=972086940

He should articulate his economic plans for ST, IT, and LT for energy independence.

BKX - rating

Big 3 auto

re GM, Chrysler Close to Loan Deal, Toyota Loss Looms

Markets are trying to use the big 3 deal as excuse to move markets, but financially Bush insight on orderly bankruptcy is rational steps as if forces the companies to manage the companies under tight supervision for they have failed to operate effectively.

Oil Volatility

~ Oil trades Up/Down like heaven or hell with high volatility. Traded to 36.15 +/-. Oil will trade with volatility. No easy ride.

-------------------------------------------------------------------------

US Economy reality is that we do not have real job growth plan except spending more debt under "Infrastructure Spending". In order to grow our economy, we need to have real economy growth plan, not adding more debt to 12 trillions of debt.

It is unreal that markets try to hype stock prices using hype under Infrastructure Spending. That is just hype to whipsaw small investors. Markets will be volatility.

This is NOT 2002 as it was before many Americans fooled into ARM real estate and into spending Home Equity loans. Many Americans are in debt and are out of jobs. Markets are hyping to lure in small investors, but markets will whipsaw.

No easy rides like 2002 low, that was before Americans spent home equities and savings.

http://www.pgpf.org/resources/PGPFCitizensGuide.pdf

http://www.brillig.com/debt_clock/

Markets triangle S/R

Intraday momentum is to downside after selling going into close.

Markets bounced off from lower TL support as we can see on 60min charts. Markets are over extended on daily while weekly looks like momentum is turning up; however, weekly is showing -D and double dip scenario will create +D. Watch break of TL S/R for short term, however, as noted, markets are bearish than many are hyping as we don't have any real economic growth except creating more debt - infrastructure rebuilding plan. NO QUICK FIX for our economy as we have debt clock bomb is ticking. No more duped by hype.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34291404

Must see video ~ http://www.cnbc.com/id/28280953/

Our country is in ticking debt bomb, so we need to stop spending and being duped by market hype - infrastructure spending hype.

American Debt

http://www.iousathemovie.com/download/


http://www.brillig.com/debt_clock/ Market bubbles

Rebuilding America

Americans need to rebuild from scratch with real productivity, not with printed money. We need to have real economic growth, not financial market hype to lure in small investors to whipsaw.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34262477

History of 'In God We Trust'

The motto IN GOD WE TRUST was placed on United States coins largely because of the increased religious sentiment existing during the Civil War. Secretary of the Treasury Salmon P. Chase received many appeals from devout persons throughout the country, urging that the United States recognize the Deity on United States coins. From Treasury Department records, it appears that the first such appeal came in a letter dated November 13, 1861. It was written to Secretary Chase by Rev. M. R. Watkinson, Minister of the Gospel from Ridleyville, Pennsylvania, and read:

Berkshire Subsidiary scam

Former CEO of Berkshire Subsidiary Sentenced to Two Years In Prison

URL: http://www.cnbc.com/id/28268515/

BIG Monster Scam

So deep, only GOD knows all the details. Obviously, SEC knew as well as Homeland Security.

SEC Wants Internal Investigation of Madoff Case
Securities and Exchange Commission Chairman Christopher Cox will ask the agency's inspector general to investigate the SEC's conduct with regard to the alleged Ponzi-scheme linked to money manager Bernard Madoff, CNBC has learned.

The Inspector General's office declined to comment on the request, which is expected to come as soon as today.

The inspector general, David Kotz, has issued a number of reports in recent months critical of the agency for being too close to entities it regulates. (See more below.)

The 70-year-old Madoff (pronounced MAY-doff), well respected in the investment community after serving as chairman of the Nasdaq Stock Market, was arrested last week in what prosecutors say was a $50 billion scheme to defraud investors.

The Fed day

Posted by: __1Best__ Date: Monday, December 15, 2008 11:30:38 PM

The Fed day tom ~

http://www.youtube.com/watch?v=LAn2UF


This MADoff rabbit markets will melt. Our entire county is Madoff. Sooner we admit it and deal with it is better.

http://www.cnbc.com/id/15840232?video=967459777&play=1
http://www.youtube.com/watch?v=LAn2UFXSsgw

Criminal Markets

Entire markets are running same as MADOFF scam ~ the same scheme ruining many.

GE Says Will No Longer Provide Quarterly Earnings Guidance


Stop scam ~ making bubbles burst worse. STOP insanity Madoff scam

Hedges on the Edge

Discussing how long can hedges cling onto investments before there's a major backlash, with Gregory Zuckerman, The Wall Street Journal and Henny Sender, Financial Times

http://www.cnbc.com/id/15840232?video=967459777&play=1

Same Scam Super Stagflation 2009

Same Scam Stagflation ~ Obama Says Fed Is "Running Out of Ammunition"

Same old price scam Super Stagflation 2009

Just same price hype - the same old corruption. We have not heard any real job creation plans except plans for creating Super Stagflation.

Mad world ~ List of Potential Fund-Fraud Victims Grows

The money manager accused of duping investors in one of Wall Street's biggest Ponzi schemes once boasted to the Securities and Exchange Commission about how much money he earned and formally advised the U.S. government on ways to protect investors from scam artists.

~~

Investors who put their fortunes in the hands of arrested New York money manager Bernard Madoff are waiting to hear how much of their stake is left.

The roster of potential victims in what prosecutors said was a $50 billion Ponzi scheme has grown exponentially longer in the past few days.

Madoff, 70, said in regulatory filings that he only had around 25 clients, but it has become apparent that the list of people who lost money may number in the hundreds or even thousands.

Among those who have acknowledged potential losses so far: Former Philadelphia Eagles owner Norman Braman, New York Mets owner Fred Wilpon and J. Ezra Merkin, the chairman of GMAC Financial Services, which owned by Cerebrus Capital Management, which holds a 51-percent stake, and General Motors .

Christmas

http://www.gty.org/AudioPlayer/Podcast/951

No Rate Cut

Big Duper

Dubai ~ the world's tallest http://www.infoplease.com/ipa/A0001338.html

While others are growing rich, Americans are duped for decade.

US economy in trouble: Solution ~> cut jobs.

Oil economy ~> cut oil supply and hike oil price.

Kids can run economy like this - no brainer.

OPEC Will Cut Output "Severely"
Ahead of OPEC's meeting this week, Peter McGuire, MD of Commodity Warrants Australia tells CNBC's Karen Tso that they are expected to take an aggressive stance and will "severely" cut output.

http://www.cnbc.com/id/15840232?video=964593402&play=1

Markets ~ ES/NQ

Markets trading in symmetrical triangle formations , while SPX/SPY/ES have broken below the lower TL support on Friday before bouncing up closing in positive territory.

Obviously 60min momentum is turning up after Fri price actions.

Technicals vs Fundamentals & Sentiment

For VST/ST trades, what you see based on technical readings, but for Longer term trades, fundamentals prevail over technical readings.

It took 3-4 years for fundamentals to prevail over technicals as we have seen the sharp pull-back during 2008.

With all the craziness of market sentiment, even in long term, technicals are working out quite well.



Professionals / Executives are more pessimistic about the economy than their employees:

Professionals / Executives:
60% are pessimistic about the economy now and for the future
31% are pessimistic about the economy now and but optimistic about the future

White-collar employees:
47% are pessimistic about the economy now and for the future
44% are pessimistic about the economy now and but optimistic about the future

Blue-collar employees:
52% are pessimistic about the economy now and for the future
39% are pessimistic about the economy now and but optimistic about the future

Nasdaq Dubai

Many world events and news are a bunch of deception and scam when we put facts together.


http://www.burjdubai.com/
While Americans are falling apart, Dubai is building the world tallest building.


Nasdaq Dubai
http://www.nasdaqdubai.com/home/home.html

Americans are duped. Layoffs Continue to Grow—Is Your Firm on the List?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34150075

Fast Moving Markets & Eco

Eco 12/5 - 12/31 ~ & Fast Moving Markets

Tuesday 12/16 14:15 ~ FOMC Policy Statement
Tuesday 12/16 ~ Best Buy and Goldman Sachs
Wednesday 12/17 ~ Morgan Stanley
Thursday 12/18 ~ Research In Motion and Oracle

Fast Moving Markets ~ markets are moving fast and also manipulated with news. That gives vst traders good opportunities. Markets with good intraday volatility can move $1 in a 2-3 mins.

This is specially true during the OE week. Need to pay attention to markets during premarket and trading hours. No time to post or to chat. $$$$$$$$$$$$$$$

The Fed, Quad OE, Bailout, GS, Rimm, etc.

Market Comments: Market price actions during the last week show bullish bias going into the pivotal week with the FED day, OE week, key earning reports from Best Buy, Goldman, MS, and RIMM.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=34165706

Markets consolidated for three days after the Run-away GAP which I noted to be filled; and finally we had downside momentum during Thursday and Friday; but, markets quickly recovered from downside momentum filling the GAP going into close as markets closed in positive territory.

60mins are now turning up after the 4 day consolidation of the Gap-up. Daily price actions have shown resistances below 50dma on major markets, and breaking above the resistances - targeting SPX 1050 +/-.

Daily price actions are now overextended even though prices have not, so strong move during the next week will make up for the 4-day consolidation period.

Markets have formed Symmetrical Triangle formations and breaking S/R will be initial signals for price momentum to the breakout direction.

Until proven otherwise, breaking the lower support of the Nov 21 lows, markets will be trading in the range of SPX 800 -1100 +/-. Good luck

Madoff

The Red Flags In the Madoff Fund's Past http://www.cnbc.com/id/28195326/

Goldman on Oil $45

Goldman, Once Warning of $200 Oil, Sees $45 in 2009
Goldman Sachs' energy equity research team, which predicted a crude oil spike to $200 a barrel earlier this year, slashed on Friday its 2009 forecast to just $45 as demand deteriorates.

Auto Bailout Fails, White House Weighs Options

Reuters | 12 Dec 2008 | 05:39 AM ET

A proposed bailout of U.S. automakers failed in the Senate on Thursday night, raising the specter of an industry collapse that sent Asian markets reeling and sparked fears it could deepen the recession.

Bearish Case 12/11/08 CIT

http://trend-signals.blogspot.com/2008/12/big-cuddly-bear.html

"We're closer to agreement," Senate Majority Leader Harry Reid of Nevada said after several hours of negotiations. http://www.cnbc.com/id/28183485

~~~

Markets could change quickly; however, bailout wasn't a good news as we have seen during Sept/Oct big bailout. Maybe DCB? Anyway, it will be interesting OE week if 12/11/2008 wasn't CIT to downside.

U.S. households pay down debts for first time

http://www.federalreserve.gov/releases/z1/Current/z1.pdf

U.S. households pay down debts for first time

Net worth plunges at 18% annualized rate in third quarter, Fed data show

By Rex Nutting, MarketWatch
Last update: 1:34 p.m. EST Dec. 11, 2008

WASHINGTON (MarketWatch) -- Stung by the loss of more than $2.8 trillion in their net wealth, the nation's households paid down debts in the third quarter for the first time since at least 1952, the Federal Reserve reported Thursday.

Just same as Financial black drug markets

Just same as Financial black drug markets ~ instead of creating healthy economy and jobs, we now have a bunch of financial drug-addicts which will be slaughtered the most ~ don't be sucked into markets.

Light Volume Markets

Light volume market manipulation~ disaster selling will come after trading up in light volumes days after days.

Major Markets are trading up in light volumes with bailout hype; however, we have enormous bad economic news - millions of job cuts.

Bubbling up markets with infrastructure economic plan causes "inflation" which many can not afford and which will cause more disaster in the future as markets will quickly sell off after hyped just similar as what we have seen during the last several months.

Technically, markets were trading above 60min 200ma during the last 3 days after trading near to 50ma daily ma resistances.

With light volume market manipulation going into next week, a break from S/R will induce vst market reaction; however, it is obvious that markets are manipulated without much volume participation as many are going through financial hardship. Coming into market at this time is just taking greater risk as markets can move quickly. Markets can quickly sell-off after light volume rallies going into or during January with excuses of bad earning reports.

Markets are showing unstable price actions and also have shown strong power to move markets very quickly, therefore, coming into markets with IT/LT investment idea in the current market and economic condition is taking very high risk as we have technically projected lower targets near to DOW 6000 and SPX 600 +/- based on the traditional price movement analysis, e.g. EW, and also our economic condition is supporting the lower projected targets.

Chasing vicious sharp bear market rallies at this point is not a prudent decision.


US Job Losses May Exceed Already Gloomy Forecasts
http://www.cnbc.com/id/28142130


Bailout bubble disaster ~ Failure of US Auto Industry Could Batter Credit Markets

Bailout bubbles will ruin Americans after the hype wears out. Dire warnings of lost jobs and fading U.S. industrial might are driving the Detroit bailout bandwagon, but there's a little-noticed passenger quaking in the backseat—the credit markets.

A bankruptcy or failure of General Motors , Ford or Chrysler would threaten billions of dollars of financial instruments, with untold consequences, say credit market analysts and some pro-bailout lawmakers.

OE week

Qs is trading 30.24 in premarket based on "Bailout" disaster spending more debt money. This is more disaster because it is creating "inflation" from creating some construction related jobs which is not a real cure for our economy. We had over-capacity for decades while Americans are spending their life saving, now in debt. There is no quick cure, especially in globalization environment. It is foolish to be sucked into Bailout hype. Markets are hyping to buy, but markets have a lot of risk which can be burnt quickly. Watch S/R and GL :

New Bubble ~ the same disasters ~ Bailouts

New Bubble : Bailout Bubbles ~ the same disaster problems
Tech Bubble ~ 2000
Housing Bubble ~ 2003-2005
Derivative Bubble ~ 2007
Gold Bubble ~ 2008
Oil Bubble ~ 2008
Bailout Bubble ~ 2008

SPX

Bailout is making problems worse. It will cause inflation while many are out of jobs. Higher living cost for many and markets will melt after false rally based on the bailout fiasco -- creating more problems.


This bear market is NOT like any other previous bear markets. Infrastructure construction job will not help our economy much except hyping up financial markets with the gimmick economic plan which is not really helping our big economic trouble.

We had too much excess of everything for decades. This does not go away in a few years.

Remember, markets sucked out American wealth and Americans are all in debt. This didn't happen since Oct 2007 top. This happened over decades of overspending since 1969.

This bear market is not "business as usual" or "bear market as we have seen".

http://www.cnbc.com/id/24262175/

It is not new news as we already knew about this which is happening during the last decades, more so recently.

US Job Losses May Exceed Already Gloomy Forecasts
http://www.cnbc.com/id/28142130

NFL lay-off
http://www.cnbc.com/id/15840232?video=956596340&play=1

Santa Rally - Came and gone

US Job Losses May Exceed Already Gloomy Forecasts

Despite the promise of a massive federal stimulus program early next year, economists say such a program will do little to halt immediate losses in the job market. An exacerbating factor is the auto industry, which is likely to generate tens of thousands of more job losses in the next couple of months regardless of a Detroit bailout.

Markets are setting up for big slaughter.

Not convincing runaway gaps in light volume trading. TXN and Fedex warned in AH.
SPX closed at 909.70 after trading to 918.57 meeting the 1st breakout target.

Recession

Regional and state unemployment rates were mostly higher in
October. Overall, 38 states and the District of Columbia recorded
over-the-month unemployment rate increases, 5 states registered de-
creases, and 7 states had no change, the Bureau of Labor Statistics of
the U.S. Department of Labor reported today. Over the year, jobless
rates were up in 47 states and the District of Columbia, down in
1 state, and unchanged in 2 states. At 6.5 percent in October, the
national unemployment rate increased by 0.4 percentage point over the
month and 1.7 points over the year.

U.R.
Michigan 9.3, Rhode Island 9.3, and California 8.2

SEC Champion - Gators

Three Heisman Memorial Trophy awardees in U of Florida are Preachers' kids.

http://sports.espn.go.com/ncf/awards?awardId=9

2007 Tim Tebow
1996 Danny Wuerffel
1966 Steve Spurrier

Major Markets breakout

Nasdaq A/D Issues showing continued positive momentum as we can see A/D 10dma is showing new high.

Posted by: __1Best__ Date: Tuesday, December 02, 2008 8:46:53 PM
Nasdaq A/D Issues ~ 10ma A/D is showing positive divergence even though we have seen wild swing of breadth. Lately I have not commented on market breadth because the breadth activities didn't precisely predict short term market activities as we have seen high volatility during the last few months. The last time when I closely monitored was until the market top during the last year, and since then, market breadth was gradually deteriorating into extreme levels as we have seen recently showing all time lows.

For short term market breadth, as noted above, 10 day ma is showing positive divergence indicating that the climactic selling was the during Oct 2008. Also, it indicates accumulating phase. With the recent volatility, especially going into mid Dec turn date, we could see lower price actions; however, underlying market sentiment is improving.



SPX & SPY have shown positive momentum and the comments noted on DOW/DIA apply to SPY and SPY. Next resistances are 900 and 90 +/-. As noted on the link below, breaking above 900 will not be a big huddle once markets decide to breakout decisively.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=33973688



DOW & DIA ~ While DOW have not decisively penetrated above resistance TL (daily/weekly), DIA have. Markets show positive momentum to upside until proven otherwise as intraday momentum is now trading to upside. Because of market remained consolidation period for the last few weeks, daily indicators are now getting extended going into the Fed/OE pivotal week which noted as the cycle pivotal week. That does not mean that "the bottom or the top" of markets even though about 70%-80% of the turn dates were in sync with market turns.

Markets are oversold as we can see on weekly/monthly charts. So, while it is a possibility that markets can turn down during the mid month, for now, market momentum is to upside until proven otherwise. Because many are expecting the CIT, markets can do unexpected, however. Recently, markets have shown fast momentum to either direction - up or down - so, need to remain flexible for short term. Next resistances are 9000 and 90 +/-.




Qid is consolidating in a diamond formation, closing below 50dma. Markets are breaking out, and this is a signal which is confirming the move. 2x contra etfs have exploided during the Sept/Oct sell-off. Of course, markets could sell off with sharp reversal as that is a norm lately.

Qs breaking above 20dma, targeting to 34.
Be prepare for whipsawing market actions, however, as it can quickly change for ST trading.

SPY ~ a continuation of vst trend target to 100 +/-.

$OEX measured target to 483 with a break above vst sym triangle.

$GASO has shown very strong trend down to 0.91 with macd showing +D.

$USD is showing neg D which is signaling a vst pull back after the recent trading up from 70.70 reversal. Supports are 84 and 80 +/-. After a consolidation, USD 86.95 monthly is showing positive divergence targeting to 93.50 +/-.

Gold 752.2 is consolidating in a down channel formation. It is closed below 20dma support. As alerted after bouncing off from 700 +/-, it is now again momentum is down. With potentially USD pulling back, watch 740 +/- as vst price channel.

DOW 8635.42 monthly is showing hopeful signs closing above 200ma support near at 8500.

Market performances since 1995 - DOW, NYA, and SPX up 124.65%, 99.59%, and 86.23%, respectively.

SPX weekly

SPX w Price channel/fallinge wedge ~ SPX weekly is also showing a price channel (A-fork) which will be also a signal breakout above 900. I think that breaking above 900 will not be a hard task once upside momentum is fueled as the weekly is very oversold. So, it is a good idea to prepare to buy favorite stocks during this down turn. Good luck


SPX falling wedge formation ~ as shown on the SPX weekly chart, SPX is showing falling wedge formation in oversold condition going into the Fed/OE week. We will likely see IT bottom during the week and will likely see selling-exhaustion in light selling volumes, then, markets will likely turn to upside during the CIT. Breaking the SPX falling wedge trendline is a good initial signal for intermediate bottom after making the bottom which noted above.

Trading Range Markets

Markets in trading range ~ markets are trading in a consolidating range going into the mid Dec CIT (change in trend). As shown on the Qs and ES charts, we now have filling the lower GAPs and potentially retesting the Nov low 700 +/-. Going into the Fed/OE week, we will likely see a bottom for the cycle turn to upside. This is a better scenario.

I think that we will likely have better volume going into the Fed/OE week before holidays.

Markets are still in the formations which I noted; so, we will look for a breakout from TL supports.

Formations: symmetrical triangle, ST inverse H&S, IT falling wedge The symmetrical triangle formations are not broken through yet even though 60m momentum is now falling. Breaking the lower support TL, markets will find supports at 800 (gap), 750 (Nov low), and 700 (next supports).

Good luck