2008-12-23 Market Watch

The uptrend is in danger!  Here is the daily chart of SPX:

(SPX daily)

(SPX hourly)

(/ES 15-min, it's moving in the descending channel)

(/DX hourly, the US dollar index futures)

(/CL hourly, the crude oil.)

The market is doomed.  If it doesn't go up immediately (very likely), the mid-term outlook will be gloomy.

Trading system: short SKF at market open.