Last week was a pivot cycle week

Last week was a pivot cycle week with a very early sell signal on weekly and with price actions during this shorten week, we will likely see a directional price confirmation.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=39109549

Market update ~ as of Jun 26, 2009

The July 4th shorten PIVOTAL week
http://trend-signals.com/Analysis/090627.htm

* Markets closed near at the pivots, e.g. SPX 920 and DOW 8400, while Nasdaq is stronger than other major indexes forming a symmetrical triangle above the noted comparative pivots. Nasdaq shows a 2billion volume on the last Friday which came in a minute before the close registering double size of trading volumes. That is a powerful show-biz signal showing a complete control over the markets as I noted during the last few years.

* SPX 880 +/- is the next pivot which will lead to the next target SPX 750.

* Intraday 60min price actions are overbought.* ST bullish IT A-B-C correction scenario is currently wave B correction to 850-

* Correction to DOW 7500, SPX 750, QQQQ 30.50 into mid July is ideal, however, markets could hold up until Q2 report to show false hope financial reports.* Realistic: Bearish case is intermediate corrective wave 5 to SPX 666/555.

DOW daily

* DOW 8438.39

* Dow closed below uptrend support and is showing early sell-signal on weekly price pattern. Coming week is normally a strong week for EOQ/EOM window-dressing activities even though the statistics is SLIGHTLY favorable. Therefore, the week could be a pivotal week, expecially if we see a down week. * 8200 support showing H&S formation

* Daily momentum turned to downside with a trend break.* 60min is overbought.

* Markets are very overbought on weekly.* Ideally, a correction to DOW 7500, SPX 750, QQQQ 30.50 into mid July is the best case scenario.



US 10 year

* 10yr 3.52

* 10yr 3.50/3 pivot

* Rising interests rate

* Rising energy cost: Gas price ==> squeezing consumer

* Rising trillions of debt* Comparatively, interest rate is rising faster than housing recovery.

* HGX housing 81.20higher interest rate and rising energy cost is continuing to demolish many Americans who are going through financial crisis while many are taking out massive money using financial markets.


SPX weekly EW

* 918.90, fib 38% of May2008-Mar2009 low showing early sell-signal

* Wave count for a bearish Intermediate wave 5: corrective w1-w1-w5 for bearish count

* Wave count for a bearish scenario: The 9/11 top at 956 completing Intermediate Wave 4. Pivotal week for a start of IT Wave 5 to SPX 750-666 truncated flat correction or to SPX 666-555 full corrective 5th wave.

* Wave count for a bullish scenario:A completion of corrective wave A and a start of wave B of Intermediate a-b-c correction of w2 of wC of the Oct 2007 - Mar 2009 corrective wave in a Primary flat correction with a potential RST formation.