Soveriegn Debt

We getting a little bounce here. I guess that 1076 was right on the money though it went a couple ticks below for a bounce. The Soveriegn debt in Europe seems to be the major problem to the sell off but remember we closing in on the later part of the earnings season and that will prove a problem for us to move higher if all the good news is 100% from earnings. All the other news being presented to the markets are negative so the true test will be key.
Greece is in trouble and who next in line is a toss up. All this means is that the FED will soon have to act and higher rates will be on us.

Monday's post

Monday I had a post in reference to the 1081 we traded down to and said that no where in my analysis did I get this number but I did get a 1076 number. 1076 just traded BUT we didn't stop there and bounce we went through though not by much. We should get a bounce in that area but that fact that it went through that level shows that there is more on the downside to come.

Important number to look at on the downside is 1054. Remember that was the all important number coming up to these levels. Now if we trade down to 1054 this week we would have a marking for a substantial pullback in the markets. remember it was just last week we traded 1150. It will get interesting here as alot of the flat market movement in the last three months of the year is expanding here but to the bulls disappointment to the downside.

OTHER SIDE OF 10000

Other side of 10k coming soon as stated last week. 1103 was the exact top last night by a tick on the Futures. T

SWEET!!!!

APPLE

Apple has lost ass of its gains it made yesterday on the Ipad hype. It is still in danger or marking out a bear flag, be careful on this one.

Why the 1103 short

Why I shorted 1103 overnight was based on this chart -