Thursday, December 10, 2009
DOW weekly chart has reached the 12 count and very close to the target. We have another 10 positive days ahead with new highs on a marginal basis before the risk of a sharp pullback increases dramatically. THe sector rotation happened as expected within the last 6 weeks and a distribution pattern takes shape. THe only disturbing factor is the Rydex which is at an extreme low, which usually would mark a low and not a high. After Dec the positive Astro aspects which kept the rally alive will fade away and the very tough negative ones will stay in full force. 2010 will be a very volatile and mostly negative year. The Obama admin has proved to be puppets of the Wallstreet forces as they make a lot of noise but evidently support the interests of Wallstreet and not the Americans.
Posted by getagrip at 2:18 PM