THE DOT - if this turns orange or red be alert

Friday, May 29, 2009

SOX and market update

The SOX still needs to make another close at 272 before markets will turn down and we will see that within 4-5 trading days most likely around Tuesday.
Oil makes a 12 count today and should top the A wave around Tuesday as well.
The classic will be a higher opening next week followed by a turn with follow through as the market is hold up by eager manipulation through Futures buying there is no real buying interest for now just a lot of noise from the 'boys'. Even today's Futures volume is very thin we are in a distribution and the bulls are running out of steam it seems as the 'green shoot story' has many bugs. I have a 'deja vu' with how it felt 1 half of 2007 before it turned south but overall still 2 -3 months to go.

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