1076-1085

Doing some work here and this morning I mentioned the 1076 number but I am also now getting some projects to 1084/1085 area so I will use that range to see how we react in the market

Tricky

Very tricky around here- Looks like it is safer just to play the metals and Oil than the equity markets for sure. The US dollar continues to get killed and for that reason the dollar is worth much less so it would interpret to higher stock prices to compensate for the lack of buying power.
Who knows what this will all mean but looking at the increased deficit, lower dollar and higher commodity prices I can only think we are going to end in a blood bath. This is definitely not for the faint of heart and for me I rather stay on the sidelines than guess. Be my guest if you like to guest but I will wait till I see moves that are trending beside the dollar and gold moves to try anything else here and now.

I will run some analysis this weekend for sure. I am getting some ratios @1076 for the S&P for what that is worth.

Yep the market goes up 10% but the dollar goes down 20%, do you think you are ahead???


MARKETJEDI

10000

DOW 10K is only 200 points away

Trending for Earnings

So we are now in another earnings seasons, one of my favorite times in the market. This time I am far away from the action as I am just coming back from being away but never the less the earnings trend should hold through and trend in the direction of the first few reports.
The futures are up overnight as AA earnings surprised higher and they are the first of the big weights to announce earnings. If the trend stands we should trend higher and make new highs. I am out of my short S&P for small profits +4 and am currently flat. Earnings will the the defacto here and if they are modestly improved we will bust a move higher.
Look for the banks especially to go higher especially BAC, since they have run Mr.Lewis out. Maybe BAC hits $20 we will soon know.
It is 5:00 and very sleepy. I will update later