One more day

Last day of trading is tomorrow and looking at the charts we have gone no where this month. We have virtually just traded in a 40 point range on the S&P and that's unbelievable in deed. I hope we break this chop soon or I will be on the unemployment lines :) so come on big money break us !!!

Chart for all

I know I have posted this chart before but here it goes as I got some emails about the market. Nothing goes in a straight line but this is the overhaul target I think we will hit before it is all over. Time wise I think we will be in a bear market till at least 2011 if not 2013

Trend

This is the reason we always look back on the market behavior. Last post I noted that whenever we end the day bearish like yesterday the following day we head higher and the same thing happened today. Well this being a holiday shorten weekend and end of month I am more looking for an up end of the week as a sign of month end mark up.
June should set the tone and with almost most managers closing out their quarter at the end of June I believe the highs of this push up will be seen in June or the first 7 trading days of July.

Barcelona

Congrats to Barcelona on winning the UEFA Cup yesterday. Two very good goals indeed.
Well we consolidated yesterday and ended below the 900 area. I believe we mitch match around these areas till be break one way or another.
Not much to say as we are still chopping but one idea I see is NEM as a short, way over extended here like other stuff but I am not going all out short here till I see 945 on the S&P or a break of this range lower.
If today we continue down I think we are planning on a move lower but we have seen this scenario before were we close bearish and the following day there was no follow through on the downside. I wonder if we repeat today that trend or we get some legs down.
We will see


MARKETJEDI