S&P levels

The next level above that is significant is 1006. Please make note of my analysis from February which called for a high in the market somewhere in July. The last day of July proved to be the highest close for the market in 2009 but I still think we can go a little higher.
I hear a lot of people talking about the economy is getting better! could those people show me some proof and not just talk air :). I have said many times that the highest percentage returns in the market has been in bear markets so we must be careful with move up.
August must be noted as being an up month historically mainly because congress is on break. The market hates uncertainty and with congress being on break, we dont have that factor in the picture.
Lets see how high they want to push us but i am looking at that 1045/54 area (How many times I am calling that area ) to be some heavy resistance.


MARKETJEDI

Corn Market

Another interesting grain market is Corn. Corn also rallied last week whether this is dollar related or economic related here is the wave chart below. Although it looks like a bear flag I think we should be looking at the grains for long positions on the weak dollar analysis. Look for a test of the 50% retracement

Soybeans update

Soybeans is a market I have been watching recently because of one of my associates
It surely had a nice week and took out some resistance mid week. Thursday we had a huge candle saying the volatility that happen in these markets. Friday we definitely closed at some resistance.