After another great Jim's monthly commentary there is no much left to show here. Maybe I'll just add two other major indexes, which like everything else shown by Jim sit currently in make or brake areas:





In my opinion the upcoming move in either direction will be kind of "everything the same" violent and sustained move. The reason for this will be fear driving the market both up and down.

The one driving everything up will be the fear of upcoming inflation. We should all realize that the only way out of this overwhelming debt the world is currently in is to make this debt worthless. Politicians of this world are not able either to save or to raise taxes to a level necessary to service the existing debt. So they will look for ways to inflate us out of this mess and will find them sooner or later. And they don't care at all about the price we all will have to pay for this.

The fear driving everything down will be the one of the coming correction which is overdue by any measure, of the economy not recovering and maybe poised for another leg down and of contracting overall credit despite of all Fed's initial efforts.

So we have two major forces pointing in opposite directions. Once one of them prevails it should cause a massive move in its direction. But since the countertrend force will also be based on fear then we should also expect sharp countertrend moves.

So fasten your seat belts, since after this relative calm of the last few weeks, we are in for a wild ride in 2010.

Yes Albert I noticed this too and the pattern afterwards time for a
correction now?






Mats

And a Kane TD ABCD.

Good Trading,

Al Kamego

And that was another new 'bull market' high today...

Well down to test what I think is an important level 1130.75
and it was not corrective behavior down to this.

Mats

1.272 off yesterday's ABCD, to the nearest tick, was 1134.50. HOD reaction, 1134.50. Hmmmm.

Pullback (and then bounce off that)- 1130.75.

.447 off the ABCD reversal point, to the nearest tick? 1130.75. Hmmm.

Big burst up and out of today's range, for a strong close at another new 'bull market' high?

Mats,

Sorry it took me so long to respond. I had difficulties with my internet connection. To answer your question, I hesitate to predict time or price for events, & am working at trying to improve what I see on the charts in real time. That keeps me busy.

I hope that helps! Best of Luck!

Good Trading,

Al Kamego

Mats,

By the way, you have very nice charts.

Al Kamego

Thanks albert!

I wonder if we get TD here ?






Mats

Yes, roofer, your charts have been awesome, and I think very helpful to the crew.