Market Advance

http://tinyurl.com/5fu5j

Well, one of the reasons for my Blog, was to get on record my views and keep track of any "calls" I might make, or observations.

Above chart shows NDX at top of Bolinger Bands, RSI nearing overbought, but right now the DOW bounding off its oversold and lower BB is pulling everything up.

Falling oil does not mean bully for stocks, in fact, rising oil mirrors rise in stocks and Vice Versa.

Interest rates SHOULD be going up, and IMHO it all lays on Friday GDP report, and on Briefing.com thier own call is for 5%.... an UPSIDE surprise above last qtr GDP and avg estimate could send bonds tumbling (rates rise), if there is a downside surprise the opposite, the way the GOV manipulates data, this is last report BEFORE election....look at market advance BEFORE election.....not that I believe in PPT or anything...

Highest FIB retrace allowed to prior advnce is .786 which is near 1476, we are there NOW(a REVERSE COULD come from this area)....I am standing pat and considering adding to my short position, but I have been adding longs as well, trying to even out my exposure.

I have NO confidence at this time for a steep drop, tough market! But I am NOT jumping on bull bandwagon....YET.

Knowing FULL well NO year ending in FIVE (2005) has been a DOWN year for Wall Street....it is ture don't ask me why, becuase I don't know it just is.

D