Weekend Update... there can only be two choices

either it runs all the way up to 636 and finishes off a 1.0 retracement from Feb27 or falls back to reality to 594ish. Right now it seems the later is of higher probability. First, upward sloping channel is bearish and second it has gone up more than 10 points from the forecasted value of 605 and it has to come back to mama....

2c

Don't you just love this market...

The DOW is up and down 300 points daily! In any case, it closed above pivot 610 and above r1 617. You probably know what is going to happen come Monday...Price level at extreme but volatility is not...hmm, is that because the option players are not buying this? Today the closing price is right at the line where all attempts to go above have been clubbered since last October. This is not to say it will not succeed this time. Certainly there seems to be market rotation from metals/commodity plays to finance. Are we sure all sublime problems are behind us? If it is only just one or two investment banks go belly up then the Fed is doing things too heavy handed... Jim Rogers has a point that the Fed has overstepped. They should be more concerned about a strong dollar and the economy than bailing out investment bankers. Monday's numbers are 626, 615 and 609. Will not be surprised to see a pull back to 610.

2c

This is no surprise

Pull back it did. What a day for a short! There is more to come. It is not good that it failed the test for 620ish reistance line and closed below pivot 610 today. 598 is a near term target and if it closes below 598 tomorrow, the market has not found a bottom yet. Tomorrow's numbers are 616, 610, 598.

2c

Wow

It has gone from OS to OB in on day. Technically, it has changed the near term trend to up. Though more upside is to be expected, the buying sentiment peaked today. It closed near the long term trend line 620ish. It is not surprising to see a retrace tomorrow. The numbers are 627, 610 and 602.

2c

Signs of rebound

Although it closed below pivot 599, but price and volatility at extremes. It is a turtlesoup buy following a WR7. Tomorrow's numbers are 600, 592 and 585. It will be encouraging if it can close above 600. This is providing the Fed cut rate by a full 100 basis points and there is no more bad news.

2c

Weekend Updates - all eyes on the Fed

See if it can break out of 605, the downward sloping channel is bullish.

2c

They are all crooks.....

Bear Stern holding off of problems....right off the gate 605 pivot was violated and there was no doubt for shorts, fell into the 598 and s1-s2 zone and short coverings at the close to below pivot 605. It is now back to the sell zone. It looks like the market is pricing in a disappointment for the Fed cut next week. If that is the case, we have not seen the bottom yet. Monday's numbers are 608, 599 and 587. It looks like an up to sideway day on Monday and if the Fed disapoints on Tuesday then the sellings will resume and it is not going to be pretty.

Good luck

2c