This week I think we try to test 837 on the S&P early. There should be alot of talk about Obama's finance team and this might settle the market into the Thanksgiving holidays. 837 is very important to watch as a close above this would mean we have more upside in the cards. You never know with this crazy market but I am totally neutral as I said last week and I rather just play the futures intraday till be have some trend in either direction.
Saturday I was on the road and I saw gas selling for $1.84 a gallon, seem too good to be true but it was, it has me thinking that this might be some bottom here for Oil. I would be very surprised if we see gas prices lower but who knows. Just saying dont be surprised if this is close to the bottom in Oil.
Enjoy the rest of the weekend.
MARKETJEDI
Sunday, November 23, 2008
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