Thursday, December 11, 2008

Cues negative, world down a tad, iip expected to come in lower

Key question: Can we hold the supports with the weak cues?
hourly charts might top out below 2870 ish
below that 2830/2800/2770/2700
We really need to hold 2830 to keep the breakout/momentum intact on the short term charts.

Bears are gonna have a field day today with all the negatives.
What I want to see is whether we can rally post the weak IIP
if we can then we have a good chance of going higher until then ultra short term looking to short.

Also keep an eye on REL to see if it can clear 626 that will be a sign of things to come
triangle or abc.

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