DOW S&P Weekly 25th October 2008

DOW and S&P Yearly

Nothing has changed in what I've been saying for months, lower prices in 2009.

There is a 4th Quarter breakout (below 3rd Quarter lows), therefore the expectation remains that prices will remain below Septembers lows.....

DOW and S&P Monthly

October low breakout and expectation that November 50% level is the trend guide with further weakness down into November lows.

Exact levels will be defined after next weeks trading.


DOW & S&P Weekly

This week saw a lower weekly open a move back into the 50% level and then a rejection down towards the Weekly lows.

Next Week:- same pattern expectation


S&P 5-day pattern

"October lows resistance (breakout forms resistance), and the trend guide for the
4th Quarter will be defined by the November 50% level.

In the Short-term:- Hedge funds will continue to play around with the same 5-day pattern each day, and the Weekly ranges (green) shown in the Daily chart should be the trend guide for next Week"............ 11th October Weekly report

This week saw price follow the 5-day patterns precisely:- rotate...extend...rotate.

I expect next week to be no different.