Yesterday's rally failed to penetrate resistance at DJIA 11,960 (S&P 500: 1226) and declined. It will try again today and fail. DJIA 11,550 (S&P 500: 1190) likely.
Resistance to today's rally starts at DJIA 12,100 (S&P 500: 1247). Another decline to DJIA 11,735 (S&P 500: 1210) by Friday possible as market seeks comfort level.
Friday's disappointing Employment Situation report will jolt the market today with a chance of a drop of 135 to 175 points in the DJIA. Earnings begin to flow tomorrow.
Expect a technical bounce this morning capable of reaching DJIA 12,895 (S&P 500: 1377) before Friday. Rally failure risk is high. Test of Tuesday lows likely.
A possible right shoulder for a 'Head & Shoulders Top may be forming. It needs more work. A break above DJIA 13,316 says - fake-out. Ball in BIG money court.
The Feb. Durable Goods report was up, but short of projections. This may trigger a brief slide to DJIA 13,115 where a rebound is likely today or tomorrow.
The DJIA is up 1,000 points in 5 days in anticipation of a favorable outcome at the Eurozone's Dec. 9 summit, but volatility is likely in the interim - careful.
Negative reviews of last week's euro-summit are causing a sell off in stocks today. The DJIA stands to drop to 12,035 (S&P 500: 1240) today and tomorrow.
A lot of good stuff has been discounted in a 950-point surge in the stodgy DJIA in six days. Uncertainties call for a drop of 200-300 points - volatility is back.
Rebound is a response to stronger than expected U.S. economic data. European Uncertainties need clarification. Resistance starts DJIA 11,960 (S&P 500: 1226).
Finally, the stock market is getting a boost from Europe as its leaders are acting to head off the dissolution of the EU. DJIA 11,750 (S&P 500: 1214) possible.
Odds favor another leg up in the stock market. So much money is parked in safe assets. The stage is set for a surprise - out of L.T.bonds into equities.
The Street is looking for the January Early Warning Indicator for direction of stocks in January and the year as a whole. Buyers expected DJIA 12,310 (S&P: 1270)