Reading

Catching up on my reading, I stumbled upon this - WOW


http://finance.yahoo.com/banking-budgeting/article/108837/dead-cat

FLIR-

FLIR very weak technical chart keep this one on your short list

Holiday today

Today is a holiday and boy do I need it. Still suffering from bad sinus headaches geez- below is a SPX chart of the recent bounce. Notice it is very weak.

4 hour chart

Four hour chart of the S&P, seem like we will make a dip again soon after the RSI works off the last selling. Still feel like crap and now we might be getting another batch of bad weather. Winter could you please give us a break

DOW performance

Dow is down 3.7 % year to date. Have a terrible headache this morning.

Snow

Yep the heavy snowing in the north east has slow trading to a halt on Wall Street. News is that the trading desks are only 20% occupied so little activity.
I suspect the week is done here as the storm is expected to last for another day.

Posts

Sorry for the limited posts in the last couple of days but I have been extremely busy. Basically my markers here in the market are the all important banks but I believe another leg down on them will next bring down the technology stocks like GOOG and AAPL. Keep an eye on them folks, note that BAC has broken the $15 level lower and it should break the next level 14.40 very soon also GS $150 level is important and they should give this level a good support level before it breaks down.
Now I must take note by saying , I dont think this downdraft is the ultimate down draft but I do believe the path of least resistance here is lower short term.

Stay tuned