11/30 - 12/4 Full Moon Heavy Data Week

Qjie: What do I think?

(1) In next 2 weeks mkt will have a low point and a high point. From Monday to Thursday (Full Moon) to Friday NFP. I expect big mkt moves over 50+ SPX points.

(2) This mkt can not afford another 20 points drop to 1060/1070, If next time SPX gets 1070, it won't hold, target 1050-1059. So unless there are something really bad happens that GS and PPT can not save, this mkt will try stand above 1070 for the rest of 2009.

(3) Eco data will drive this week's mkt, On Monday it is set up for a gap up, but if we see slow movement at SPX 1080s first, go long Buy. For people who are still hold short positions, the best way is hedge with long ES tonight when future mkt opens

(4) Still remember the evil plan? Last week's low and this week's high is not coincident.

(5) This is what I wrote on last Friday before mkt close.

I am all cash now, rest of days trading from now on we need to be very carefulI think if close 1090 above on es, then monday if nothing bad hapens, 1100-1105the sell off has shaken lot of bulls and bears, es did 5% move 50 pts in 1 days, so many bears out and bulls out, new bulls can hold and add, new bears will get squeezed, this time if we close over 1100 and hold for 1+ day, new high cominganother possibility is (also 50% chance) , it is possible close 1090s and then gap down and hold today low and reverse monday

Weekend Reading
(1) stockcharts.com/def/servlet/Favorites.CS...ID26831&cmd=show[s160751510]&disp=O
(2) www.technicalindicatorindex.com/newslett...27.09_7055475115.pdf
(3) Market will go up because of this: www.cnbc.com/id/34180711
(4) finance.yahoo.com/news/Dubai-looks-to-oi...mp;asset=&ccode=
(5) finance.yahoo.com/news/Black-Friday-stor...mp;asset=&ccode=
(6) New Margin rule for leveraged ETF's, another setup intended to squeeze the shorts

Eco Data

Monday Chicago PMI9:45 AM ET
Tuesday Redbook8:55 AM ETISM Mfg Index10:00 AM ETConstruction Spending10:00 AM ETPending Home Sales Index10:00 AM ET
Wednesday Challenger Job-Cut Report7:30 AM ETADP Employment Report8:15 AM ETEIA Petroleum Status Report10:30 AM ET
Thursday Ben Bernanke SpeaksBarack Obama SpeaksChain Store Sales Jobless Claims8:30 AM ETISM Non-Mfg Index10:00 AM ETEIA Natural Gas Report 10:30 AM ET
Friday Employment Situation 8:30 AM ET

Overall mkt Overview:
(1) $FTSE This is a reversal candle for next week, it still remain in the wedge

(2) $DAX The drop kept above the trend line, and left a reversal candle too, but the upside is also limited to the down trend line.

(3) Index-weekly Dow is still remains strongand likly will try trend line and possible break it.

(4) Index-daily Dow and SPX kept above 20ma, NDX and COMPQ gave reversal candle while Rut, which contails large amount banks show the weakest close. But Banks could start bounce back up Monday.

(5) $SPX-Daily It has the 3rd cross down on stoc, but held 20ma, I think it will try 50ema at 1070, But after a bounce up. to around 50% of this red candle.$SPX-15minHwat does this chart tell you?

(6) SPY-Daily a good set up for a gap upSPY-30minMoving Average Support and resistance

(7) $TRAN Weak but will try 4000 again before fall down

(8) $BDI Sharp pull back indicates weak mkt globally

(9) $USD Stopped at the green trend line again, maybe next time it will break it, but until then, the chances to hit 74 exists

(10) $COPPER 3.000 did hit and now it should be trade within this narrow range

(11) $GOLD This gold chart did not have Friday's candle, but anyway it hit Fib extention target 1192.

(12) $WTICStill remain atound support band 75. The up and low trendline in this chart will be both hit next week or 2.

(13) QQQQRed OXY is reversal candle and likely it will hit 44-45 again.