SPX 1150

We may have seen the top for the year at SPX 1150 on 1/19/2010.

$COMPX 2147.35 -31.65 -1.45% 3,112,098
$INDU 10067.33 -53.13 -0.52% 1,494,876
$INX 1073.87 -10.66 -0.98%

• • • Pimco's El-Erian: US Economy Will Reset Slowly This Year

      The chief executive of the world's biggest bond fund on Friday questioned whether it is too soon to say 2010 is a post-crisis year. Economy Grows 5.7 Percent; Chicago PMI Jumps

    • Stocks Have Dismal January—a Bad Omen for Year?
      • Good Earnings Not Good Enough
      • Consumer Mood Brightens
    • Citigroup CEO: Profitability Not a Long-Term Concern
    • Double US Exports in 5 Years? Goal Would Be 'Miracle'
    • Bacon Is Better Than Viagra: Argentine President

    • The Business of the SI Swimsuit Issue

    • Gay Ad for the Super Bowl—Too Much for CBS?
    • Toyota May Resume Sales Soon; Honda Issues Recall
    • What's in a Name? Why Everyone Hates the 'iPad'
    • Banks' Complaining of Taxes Is 'Outrageous': Frank
    • Obama Assails Republican Foes, Urges Bipartisan Effort
    • 'Bank of America Is Not Too Big', Says CEO Moynihan
    • Get Ready for the 'Twitter Oscars'

• Haiti's Earthquake: Natural or Engineered

  01/27/10

  Stephen Lendman

  

  Human activity can cause destructive harm. Columbia University geophysical hazards research scientist, Christian Klose, studies how, including from mining. In a recent paper, he said:http://www.a-w-i-p.com/index.php/2010/01/27/haiti-s-earthquake-natural-or-engineered

  http://www.infowars.com/the-ultimate-shell-game-the-federal-reserve-funds-91-of-2009-u-s-deficit/
  

Economy & SPX

Market pump based on market hype after using US Treasury robbery debt bubble.

SPX daily & weekly

Some know who and how a few obtained billions and trillions.

• US Growth Prospects for New Decade Weak: Economists

  A dismal job market, a crippled real estate sector and hobbled banks will keep a lid on U.S. economic growth over the coming decade, some of the nation's leading economists said. Latest Jobs Data Point to Happy New Year

• Fed Can't Rule Out Rate Hikes To Pop Asset Bubbles: Chief

  Fed Chairman Ben Bernanke said Sunday that tougher regulation would have been the best way to restrain the housing bubble but would no longer rule out rate increases to prevent another crisis. Economy 2010: 'A Pitiful Snapback'

• Jobs Bill: Will Billions More Really Spur Employment?
  • Latest Jobless Numbers Point To Happy New Year
• Did Mortgage Relief Program Make Housing Crisis Worse?

  The $75 billion program to protect homeowners from foreclosure has been viewed as a disappointment, and some experts now contend it has done more harm than good, the New York Times reports. Billions to Fight Foreclosure, but Few New Loan

• 
  For Investors Who Also Saved, It Was Hardly a Lost Decade

  Even those who started with a low six-figure balance could have doubled their total savings in the last 10 years, the New York Times reports. Latest Jobless Numbers Point To Happy New Year

• As Crisis Fades, Banks Are Clinging to Old Ways
  • Wells Fargo Grants Stock Bonuses to Top Execs
• American Air Probed After Three Bad Landings: Report
• Week's Bond Auctions Show Lingering Need for Safety
• Time Warner, Fox Extend Deadline In Cable Fee Talks
• 2010 Tech Rally: Which Companies Will Lead the Way?
• Berkshire Hathaway Blows Out S&P 500 for Decade
• Google Executive Running to Be Vermont's Governor
• A Year of Goodbye's: CEOs Make Their Exits in 2009
• Seven Businesses That Did Not Survive 2009
• Porn's Tech Frontier: 3D and Peripherals

• The Most Valuable Actors of 2009

• Amazon May Pay for Touting Kindle Without Details

Market correction & SPX

Consnopled markets without a correction.
SPX 1095

$COMPX 2180.05 -26.86 -1.22% 1,899,457
$INDU 10308.26 -132.86 -1.27% 1,825,861
$INX 1096.07 -13.11 -1.18%

12.17.2009 News Media pro.pagan.da

Markets advanced without any pull back for the last 10 months even though we are seeing -D since July 2009. Any meaningful correction...

• 
  

  Weekly Jobless Claims Rise as Labor Market Still Weak The number of U.S. workers filing new applications for jobless insurance unexpectedly rose last week, numbers that still suggested the labor market was improving. Americans Sour on Economy Trauma of Joblessness in U.S.

• FedEx Cautious on Current Quarter Profit, Shares Slip

  Shipping company FedEx reported quarterly earnings in line with earlier guidance Thursday, but its projections for profit in the current quarter was well below Wall Street expectations. FedEx Among Top US Employers

• Whitney Cuts Goldman, Morgan Profit Estimates
• US Delays its $5 Billion Citi Sale After Weak Pricing
  • Citi Offering a 'Terrible Error': Bove
• Top 10 Outrageous Predictions for 2010
• Bank of America Elects Brian Moynihan as New CEO
• US House Approves $155 Billion Jobs Bill
  • White House Now Looks to Broadband to Boost Jobs
• 4 Big Mortgage Backers Swim in Ocean of Debt
• Poll: Americans Most Pessimistic Since January
• Copenhagen Climate Talks in Trouble, Blame Begins
• General Mills Posts Higher Profit, Raises View
• Shaolin Monks Look to Market to Raise $150 Million
• Treasury Seeks More Lending Data From TARP Firms

http://www.cnbc.com/id/34460840

The Fed Madoff Economic data ~ 11/2/2009

$COMPX 2049.20 4.09 0.20% 2,402,839
$INDU 9789.44 76.71 0.79% 1,546,439
$INX 1042.88 6.69 0.65%

Markets traded to lower TL supports as noted, e.g. SPX 1029 LOD in a short timeframe with a wide range day and finished the day with doji/hammer formations.

Previously shown EW daily chart lower target of SPX 1000 +/- is Wave 1 target area; however, markets are trading at pivotal juncture going into the FED announcement Wed day.

Only way for the EW formation to work for bearish scenario is Extended (v) of 1 of (1) of {3} with wave 1 target of 950 +/- as shown on the 15min chart; however, markets are closed at pivotal juncture, so, I am staring at doji/hammer closed charts with teary eyes.

As some of Americans are now aware of dreadful Fed manipulation of economy and financial amrkets, we now have to wait to see how the Fed Bernanke will do with markets, but so far he is still broadcasting hyped GDP, misleading economic growth propaganda. As Jesus said, we may just have to deal with the power craving FED as Bernanke is continuing to bamboozle Americans and globalists.

Actually, the Volcker early bubble stage which was followed by the Greenspan bubble madness was the beginning of the grand swindle of Americans and the United States as we can see on the VLT chart. http://trend-signals.blogspot.com/2009/10/what-fed-has-done-to-united-states.html

• No More Over-Reliance on Consumer Spending: Volcker

  White House economic adviser Paul Volcker said his meeting on Monday with President Barack Obama focused in part on reducing U.S. economic reliance on consumer spending. Volcker Talks Economy in CNBC Exclusive

• Seesaw moves in the stock market have not discouraged some strategists who believe the market remains in an uptrend, despite near-term choppiness.

Stocks Monday rose early on a strong ISM report and a surprise profit from Ford, but they gave back a triple-digit gain at midday as the financial sector came under selling pressure. But buyers stepped in, taking stocks from negative levels to gains once more. The Dow finished the day at 9789, up 76, and the S&P 500 rose 6 to 1042. Financials ended higher, up 0.8 percent, even as Citigroup, which led the decline, finished lower.

Monday's intraday move though was volatile but mild compared to the sharp snap up last Thursday on Q3 GDP, and the big let down Friday when the Dow lost 249 points after a weak consumer spending report.

http://www.cnbc.com/id/33593806

Profit Taking

$COMPX 2083.00 -33.09 -1.56% 1,579,071
$INDU 9852.24 -29.93 -0.30% 870,106
$INX 1054.00 -9.41 -0.88%

SPX traded to 1047 target, but who would still buy dips. We have high volume trading as taking profit is starting to show, it seems that a beginning of taking profit.

European debt is astonishing.

• • • Sign of Recovery: Employers Are Resuming 401(k) Matches

      Several employers suspended 401 (k) matches to reduce costs during the recession, but a few are beginning to reinstate them. How to Play Falling Dollar Stock Pickers Vs Index Funds Time to Adjust Tech Portfolio

    • New Home Sales Post Surprise Drop; Inventory Also Falls
      • Mortgage Applications Fall
      • Compromise on Tax Credit?
    • Senate Vote On Home-Buyer Tax Credit Unlikely Today
    • Goldman Sachs Cuts Third-Quarter GDP Forecast
    • Madoff Trustee Says Losses Now Total $21.2 Billion
    • Weak Dollar Is Protectionist Barrier: Bill Gross
    • Banks Could Spell Trouble for All Stocks: Chartist
    • GM Touts Progress, Serves Up Details on Latest Refunds
    • Poll: If This Is a Correction, How Far Will Stocks Fall?

    • The World's Biggest Debtor Nations

    • New York Jets Slash 2010 Ticket Prices

Debt, Europe debt, EU Debt

p$$$$$$$ ~ still holding ?

• Obama Financial Reforms Advance in US Congress

  The Obama administration made gains in its push for U.S. financial reforms on Tuesday, unveiling a landmark bill to tackle systemic risk in the economy. Wed Preview: Pause in Carry Trades Could Boost Dollar The floor under stocks feels a bit shaky, and the market could give way to more profit taking this week. Dollar Carry Trade Could Cause Big Pullback We are in Mother of All Carry Trades: Roubini Simplify, Don't Add to, Bank Regulation

• Worst of Global Crisis Over: Australian Central Banker
• Former AMD CEO is a Galleon Source: Sources
• Fed Unlikely to Shift Its Thinking on Interest Rates
• Democrats Agree on Home-Buyers Tax Credit: Dodd
  • Home Prices Rise in August
  • Hedge-Fund Mansions On Sale

Markets bounced off from the noted 1060 support. With expected 4 of 3 of 3 of Int. 1 of P3? SPX 1047 50ma pivot. Intraday is oversold, however, we have not seen a profit taking momentum yet. The downside momentum of Wave 3 is still plugged by the FED?

$COMPX 2116.09 -25.76 -1.20% 2,376,872
$INDU 9882.17 14.21 0.14% 1,385,948
$INX 1063.41 -3.54 -0.33%

Unfilled gaps

** Unfilled gaps - a full of holely market price manipulation - a trace of wild pigs rampage.


Of course, LEI would be up after trillion debt spending. The 2009 economy is built on debt-spending and still waiting for survived Americans to spend until going bankrupt.

• Leading Economic Index Hits Two-Year High
• Subsidy or Scam? Many Abuse Housing Tax Credit: Report

  Thousands of individuals claiming the first-time homebuyer's $8,000 tax credit may have been attempting to scam the system, including purported 4-year-olds and illegal immigrants. Credit Could Be Expanded Housing at Bottom: Bove

• Leading Economic Index Hits Two-Year High
• 30 Year Fixed Mortgage Rate Rises Slightly to 5 Percent
• Are New Home Appraisal Rules Gone Before They Start?
• Weekly Job Claims Rise; 4-Week Average Falls
• Jobs Will Continue to Lag: White House's Romer
• Financial Woes Plagued Galleon Informant
• Blog: Balloon Boy, The Halloween Costume
• Windows 7 May Help Kickstart Delayed Corporate Spend
• Pets Leave Larger Carbon Footprint Than SUVs: Authors

• Is Obama Justified In Cutting Executive Pay?

• US Prepares to Lower the Ax On Executive Pay at 7 Firms

The Treasury is expected Thursday to order seven companies that have not repaid last year's federal bailout money to halve their top executives' average compensation. Poll: Is Government Justified? Cramer: No Sympathy for Executives

• Biden Calls For Strong Partnership Between U.S. And Europe
  

  (RTTNews) - Vice President Joe Biden spoke Thursday after meeting with Romanian President Traian Basescu, calling for a strong partnership between the U.S. and Europe.
• Lawsuit: Madoff's workplace was rife with cocaine, sex
  http://www.cnn.com/2009/CRIME/10/22/madoff.lawsuit/index.html
  * Lawsuit seeks punitive damages, compensation on behalf of former investors
  * Starting in '70s, Madoff sent employees to buy drugs for company use, suit alleges
  * Lawsuit: Madoff used money stolen from investors to pay for escorts and masseuses
  * Madoff now eating prison pizza cooked by a convicted child molester, lawsuit says
  
  

Slumber Markets with low VIX

After the selling into close, markets do now show any concern as premarkets are showing slumber flat -- must be expecting another shoot-up based on "Long and Strong Delusion" debt spending economy. Markets are showing continued low volatility after bouncing off from VIX 20 and finishing the day with a strong hammer, it is dead again showing no-follow through.

• The Labor Department says new jobless claims rose to a seasonally adjusted 531,000 last week, from an upwardly revised 520,000 the previous week.
• • Mixed Bag: Weekly Job Claims Rise; 4-Week Average Falls

    The number of newly laid-off workers filing claims for jobless benefits rose more than expected last week, after falling in five of the past six weeks. Pay Cuts at Bailed-Out Firms Job Growth Slow: Summers

  • McDonald's Posts Strong Profit, Predicts Solid Sales
  • Travelers Profit Beats Market Views; Shares Up
  • AT&T Results Top Estimates with iPhone Help
  • US Should Cut Deficit or Risk AAA Rating: Moody's
    • Double-Dip Recession Unlikely: ECB's Weber
  • Merck Posts Big Profit Jump, Slight Rise in Sales
  • Xerox Reports Earnings Drop But Raises Outlook
  • China's Growth Quickens But Policy Stays on Hold
  • Windows 7 May Help Kickstart Delayed Corporate Spend
  • Interview: Steve Ballmer on Windows 7, Company's Outlook
  • Chavez Urges 3-Minute Showers to Conserve Water
• Goldman Sachs Is Too Big to Tell It Straight: Jonathan Weil
• US 'plans bail-out firm pay cut'
  

  US firms that benefited from government bail-out cash will be told to slash salaries for highest paid executives.

Market Correction

$COMPX 2150.73 -12.74 -0.59% 2,556,394
$INDU 9949.36 -92.14 -0.92% 1,398,943
$INX 1081.40 -9.66 -0.89%

SPX traded to 1101.36 HOD and retrieved closing near the low of the day. Even though Markets look as if "TOP formation" with inverted reversal formation with high volume selling at major pivotal resistances, it is better to be cautious as the theme of the 2009 rally is mainly based on "Short squeeze" without any meaningful correction.

• The W3 corrective wave theory is enticing and is due after long 6-7 month rally; however, based on the previous price pattern, the risk/reward for being in the market is 50/50 as the recent rally has been sharp. aka Bernanke greenshoot.
• Market breadth during the 2009 rally has been narrow compared to 2003 market rally. And market breadth and price action has shown negative divergences for months.
  
• Bearish fundamental factors didn't stop markets continuing to advance, so, blindly following the EW downside forecast can be deadly. Bears need to be cautious as the selling which we have seen could well be another trap.
• "W3" after A-B-C correction sounds reasonable after the incredible 6-7 months rally, nevertheless.
• USD broke 76 support, and now it is trading near at 75 support. The counter part Gold traded to 1072 +/- resistance and trading at 1058 at the moment.
• AAPL is upgraded to 300 which is a bad news for bears, however, if markets start to correct, it will likely fill the gap-up.
• VIX traded to 20, then, closed at 22.22. Would this really be a start of a meaningful correction?
• Markets are near CIT pivots, and if we are indeed in W3, this ride will be "Fast & Furious".
  

Bernanke, SPX, Sectors & profit

Markets are trading near at major S/R pivots, and many are now again turning into bearish, e.g. EW W3 downside forecast. As noted, I don't see a confirmation which we will see a correction of this maddened market even after 50%-300% driven up markets. As shown on the SPX daily chart -- % rally, a shallow retrace of 4%-9% followed by another short-squeeze push-up, it is premature to scream a pull back as Bernanke can continue to manipulate markets to upside.

The market price actions acting on TA caused many traders burnt because many TA didn't work well, e.g. retest of the March low, negative divergences, normal fib retracement, etc. Until TA and price pattern shows some confidence that markets will correct, it is a significant risk to assume the W3 bearish scenario as markets were pushing up based on short-squeeze for months. Considering the following factors, Bernanke can do anything with markets. Therefore, Keep in Mind of MOASS in this lunatic market.

How Bernanke and bankers took trillions out of Americans and Treasury.
* propaganda using mass media - e.g. his appearance on the 60 Min
* accounting method change using congress, FASB, and AICPA
* bail out and TARP
* selling Treasury debt
* baiting and fueling short-squeeze
* using hundreds of the Fed/big bank traders driving up or down markets -- probably, but likely -- based on market trade data analysis and traders showing their hands on newsletter, financial board sentiment, and trade execution information.
http://trend-signals.blogspot.com/2009/10/wire-tappp-in-fraud-case-deal-that-lost.html



What else is new for the fraudulent FED and its owners as the fraudulent operation was going on for decades... ~

• “The guy’s a giant, he’s a genius, he is a great human being,” said Austan D. Goolsbee, counselor to Mr. Obama since their Chicago days. “Whenever he has advice, the administration is very interested.”

AP Former U.S. Federal Reserve Chairman Paul Volcker

• Well, not lately. The aging Mr. Volcker (he is 82) has some advice, deeply felt. He has been offering it in speeches and Congressional testimony, and repeating it to those around the president, most of them young enough to be his children.

Bernanke lunacy of financial market manipulation after the Greenspan madness of tech and housing bubble/burst manipulation -- using mass media propaganda to sway sheepsters.



# Housing Market Has Bottomed, Banking Analyst Bove Says
"I really believe that the industry has bottomed, that we're not going to see further crashes in home prices or in home sales," banking analyst Dick Bove told CNBC.
* Mortgage Applications Drop
* Markets Harder to Please: Strategists
# Galleon Preparing to Unwind its Hedge Fund Holdings
* Wells Fargo Beats as Profit Up; Shares Fall as Bad Loans Jump http://www.cnbc.com/
Wells Fargo said shareholder profit rose 60 percent in the third quarter as mortgage banking revenue surged.
o Plan Your Earnings Season
o Earnings Surprises: Meet, Beat or Miss
* Morgan Stanley Profit Falls, but Tops Forecasts
* Boeing Posts Loss on Charges From 747, 787 Tests
* Housing Market Has Bottomed: Dick Bove
* Lilly Profit Tops Street View; Raises Year Outlook
* Watchdog Official Criticizes Handling of TARP
o Core TARP Programs Ending: Geithner
* Mortgage Applications Drop Again as Rates Climb
* No Tightening in Next Several Months: Fed's Yellen
* Bank of England Calls for Splitting Banks' Business
o Slideshow: The World's Safest Banks
* GE, Comcast Keep Options Open Amid NBC Deal Talk
* Madoff Investors Sue KPMG and Major Banks
* Buffett: 'Enormous' Economic Progress Over Last Year