DOW (S&P) 9th DEC 2008 Daily recap

"Probability pattern were for US markets to move into the 3-Week highs.

Once those Weekly highs were hit on Monday sellers have driven price back down.

At this stage they are valid resistance zones (until Broken).

As pointed out in the Weekly report, i'm factoring that any breakout of these highs will occur closer to Friday"

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DOW and S&P Weekly

Weekly highs resistance have played out.

At tihs stage the bias is to continue down towards the Weekly 50% level.

If there is a breakout on the upside, as per last Week's report, that more likely to occur closer to Friday.






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