Markets traded to major resistances and finish the day with doji reversal formations with massive negative divergences with Megaphone/RST and Rising Wedges.
$COMPX 2080.90
$INDU 9605.41
$INX 1042.73
Traded to targets of SPX 1050, DOW 9650, and Nasdaq 2100.
USD is trading at 76 support and gold is trading at 1010 resistance.
Markets are all trading at major resistances at pivotal juncture.
I noted that the week ending on 9/11/2009 is a cycle pivot week.
This is Quadruple Witching week. Markets were pushing up based on massive debt spending which was basically just transferring billions from Treasury to the financial markets and excuse to hype financial markets with stimulus, i.e. debt.
The futures are showing a slightly negative.
Markets are hoping for US consumers to fall into the same trap of spending their life savings, but as we have seen during the 912 Unite march, Americans are starting to wake up. The 912 Unite march has just begun.
Americans will not be fooled again! At least, hope not!!
No comments:
Post a Comment