Tuesday, December 23, 2008

Market Update

Sp's look like they will trade between low 860's and upper 870's today.  Volume is extremely light so I'm not sure I trust the pre Holiday charts as much as I normally would.

Gold is weak as the dollar strengthens a little today.  I think there might be a trade to $870 in Feb gold.  If that develops in the next several days there would be a nice sell signal at that point to bring us back down towards $800.  Similar patterns in reverse appear with the dollar index.

Ten years look toppy again at least for a modest correction to 125'20.  


There is a substantial risk of loss in trading commodity futures, options and foreign exchange products. Past performance is not indicative of future results