Monday, December 01, 2008

2008-12-01 Market Watch

SPX: we are in wave B of 4.  Tomorrow the market could go up a little bit, but this B wave is not completed yet.  At the current level, smart money should have broken even and the next direction could be either up or down.  If 800 on /ES holds firmly, short position should be closed.

image (daily, close up)  image (hourly)

SKF: it went up too fast.  No overbought, the signal is in early stage of buy.  Wait a while before short.

1

USD/JPY: trend has not reversed yet.

image

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