Market Update 11-10-08
Closing ticks on the nyse which correctly forecast last weeks 2 day debacle were high fri. but not to the 'over plus 800'level needed for a decent decline. Therefore we could have another day of rally before the expected trend down into the expected 45 day cycle due Nov 13-17th. 974-80 should cap any upside however, or something more important is happening. This 850-870 level is a line in the sand for the bulls ,in my opinion. After the expected decline this week, the rally should resume to the Nov 28- Dec4 time frame before any chance of the 120 and 45 day cycle low in Jan exerting any influence. Time will tell!