Market Outlook

SP500 buyers and USD sellers return yet again.

 

Gosh, it's almost as if the market (dare I say it?) fluctuates.

Oh the humanity!

 

Where would humanity be without those wonderful ups and downs?

 

Equity bulls still have the upper hand.

 

Price action in highlighted area reveals a choppy market lacking consensus and conviction.
http://stockmarket618.files.wordpress.com/2012/01/2012-01-10_dow_wk2.png

Lack of consensus example :
Hopefully the trolls will understand.
Has the S&P topped out around 1290 - 1300 ?
yes 36.36%
no 40.91%
I don't know 22.73%

 

Euro stock bears sell off once again.

 

SP500 daily chart still overextended resulting in another Wile E. Coyote scenario.

Gold and Silver should follow SP500 as usual.

 

Recurring influence from bullish USDX weekly and monthly chart expected to continue.

 

If your theory is that the market is choppy and without consensus then why are you commenting on every chop? Unless this is a contradiction to be right in all cases? Those who know better will see you as wrong in all cases.

 

SP500 daily reverts to bearish and down leg commences at last.