Market Overview

BullBear Trading Service Update

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12/01/09 Update:

It appears that the market has setup for an upside breakout in stocks and commodities and a downside break in the dollar. Remember, when a market does not do what it should do when it should do it then it is about to do the opposite. The recent setup was for a downside break and a potential rally in the dollar and that appears to have failed. It would then be appropriate to take the other side of the trade.

Recent relative strength in small caps and financials give a bullish tilt to the equities markets.

Resistance in SPX is at 1111-1113. You can buy a close above those levels.

Resistance in Gold is at 1200 and 1218. If gold closes today above 1200 it is likely going much higher. Relative strength in silver today is gold positive.

If the Euro closes above 1.5040 today it is a buy.

if crude oil closes above $78.00 today it is a buy.

No time to prepare charts on these today but perhaps tonight.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

 

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