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..

Copper and Market (SP500) are highly co-related , copper usually run ahead of the market. When you look at the chart, copper ran 78.6% from the low and market is only 61.8 %. After market crossed over 1100, we can expect market can go to 1125-1130 range in next week or two. VIX now in 20's and can be lower to 17.50 range again

Due to a dragon fly doji on Friday(in Daily) Market can 1. Rally couple of days to the nearest resistance and go down 2.Can Rally and make new highs rest of Feb or through mid of March and make a H&S Pattern as shown in the chart.

Keep it Handy.. Future forecast :)

Market pull back to a good support.. In long term chart today's low hit on 50 day MA.

Spider is going in a channel APPL,MA,HDB,IBM &CF Broke UP - Good Entries Gold,VIX is going down.. "Ball is in Bulls Court"

GS and Apple is good candidate on watch list.. Break UP can be buyable

Spider is in Double top on 60 min. chart. IBM,MA and RIMM Broke Up.. Good Long Setup

Spider : Bull Flag Formation Gold : Bull Flag Dollar : slow but UP today VIX : Going towards 20 s again ?

VIX is in a good support. Even though Market rallied, VIX doesn't reflect significant change. People are scared !!

New Moon cycle starts Nov 16 - Dec 1 ST. Will that be a down cycle ?

Here is the moon cycle of the SPY

SPX is in a bullish triangle right now. when look at the VIX , VIX is in a major support. What it mean is, Monday Bulls need to try hard to break UP SPX and break down the support of VIX. Need more volume to do that, else market will be choppy towards down side until VIX reach 26 and rally

All the chart look same. Most of them hit resistance and pull back. Next Up turn could break all resistance and run more. I think most of the tickers will run until 16-25 th of the NOV.

In Diamonds daily, I got buying signal from Friday, Possible target is 105. If market is holding tomorrow at 101.90 (Daily Pivot), that is good point to get in. Notice, Percent R (daily) is 70, means there are more room to go UP. It is not over bought area yet. The Pull down or lower open (if market does) tomorrow can be a re entry to DIA .