Wednesday, December 28, 2011

Evening Thread

SPX Daily Chart

The bears had the edge today... pushing back down from the top of what appears to be tough resistance on the daily chart. The big question is... where do we go from here?

Afternoon Thread

Someone sent out the signal and he responded

Although the Italian bond auction appeared to go well with yields about half the rate of the previous sale and the bid to cover also improved the Euro has fallen below the 1.3000 level and the $US is very strong. 

The U.S. market indexes are at critical junctures and with trading very light it's easy for the the big boys to push them where they want them to go.

News from the middle east is also causing concern.  The Straights of Hormuz are critical to the flow of oil and while the US Navy can handle whatever Iran throws at it conflict is likely to spike oil and send the markets sharply lower. 

Morning Thread

Amen