Ok ... Lady and Gents,

Are we out of the woods yet? The answer might surprise you, No. Unfortunately the market is still in the middle and it is trying to make its decision.  In my opinion I believe the market is making a decision based on its area of trading the past two weeks.

Currently, it seems that the market is building a bear flag, which means we will see some more down down side.  Tomorrow might be another down day, although today was a green day.

If the market breaks through the resistance there is a possibility that the market will grow again, however it currently seems like we are headed lower.

No swings yet only Day trades.

$TNA, $TZA and $DRV are good for day trades.  Do your homework though for the market does reflect edge while it whipsaws.

If you have any questions, send your questions over to Trade.Smart.Now@gmail.com

Have a great week and Trade Smart!

S & P 500

Good evening everyone. Markets looked pretty firm today and we had a rally.  People really brought in the money and we had a EOD small run.

But lets not get ahead of ourselves yet.  We still need some confirmation in order to call this a re-test, or bottom or reversal.  Today we saw people come in with some money however this could be due to what Bernanke's might bring to the table on Friday.

What you want to see is the market cross fully over some of its resistance and break out of the channel it wants to build.  Currently we are putting some pressure on the bears, however what ever Bernanke brings to the table will either make or break the market.

I advice to continue keeping light until we see further confirmation of the market turning. However there some good setups, however some of the stuff is coming overbought.

Keep cool and Trade-Smart.

by Elektrode!