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Globex 12-01-08

hey gang, here we go.. another fun week (especially tues-wed)... short one from 896.00, looking for 891.50 , planning to cover 892.50
its also the 5m avg
yup..yer catching on fast, Vo!
gues it needed the 15m avg
Very surprising there wasnt much bounce there... That would indicate to me a very bearish market, at least short term.
1min avg is now 889.50, an ideal 'target'
I say that because there is still an outstanding 15 min proj. (881) and the 5 min cycles show about 10 min of dowside left still.
markets weak cant even bounce
seems so... when i look at the spx cash cycles(which i sometimes do to get rid of the globex session ) it should have some kind of downside bias first 2 hours and then upside till the 4th or 5th hour of trading tomorrow.. just some thing to keep in mind
wants 81...which by the way is also S1
Going to take a snooze till about 10:00 ... c ya soon!