critical point

So looking at the major indices, a few weeks back they had their pullback, then they experienced a bit of a recovery, the standard 50% retracement, and now they have been trending in a sideways pattern before they make their next move. Will that be up to newer highs or lower to break the lows of a few weeks ago?

The PIIGS and the Euro are on the radar of everyone out there who has a stake in the global markets. Oil is trying to break through $80 a barrel again and the US equity market leaders are not leading the pack on this latest rally.

Put your shorts on, keep the stops tight and look for the writing on the wall.

Happy weekend.

DJIA 10,325.26 +4.23

NASDAQ 2,238.26 +4.04

SP500 1,104.49 +1.55