Market Diary

From Dec. 09 onwards market is diverging from Euro/US$. Usually Euro is highly co-related to S&P 500. There are good chance, to synchronize currency and equity market.

This afternoon, very good reversal pattern formed after Feb 5 TH dragonfly dogi, today market formed a gravestone doji..!!

Facts : -VIX is in double bottom -SPX on resistance showing double top -Copper is weakening By considering above mentioned facts, I don't think Bulls can take this market to next level with out a correction again.

Analyst are predicting 2010 is some sort of 2004 reflection year in the market. If that is true, In 2004 March 5 TH market topped to 1163 and on March 24 Th Market Bottom on 1085, about 80 point down movement. If this movement is repeating in 2010 March 5 Th market top was yesterday about 1138 , and we can see down movement starting next week onwards .

In last couple of days we have top tail candles and price is so close to the resistance as well as VIX is in teen danger zone, I am thinking Market due for another dip down..