Dec 27, 2012

Short term update

Here is the updated chart. I have not had a lot of time to asses the charts.... when the middle trend line is broken it is not a surprise that the index is dropping to the next support level and the lower trend line.
Current thoughts - if I look at the charts I would say that we will see some bounce of the trend line and lower high. A surprise news about resolution of the "fiscal cliff" can send the market to a higher high.... f..cking theater. The European markets are flat and SPX500 lost 45 points which is very very strange. So I can not exclude a sharp rally.

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