Sunday, September 20, 2009

Market relentless rally continues

The September Month is seasonally normally the weakest month, but the market ignored this so far as we have been straight Up (SU) since the 9/2-3 Master Cycle (MC) Lows.

The trend every month since Jan 09 into August 09, was to expect a High or Low between the 6th and the 11th of each month. Not so this time, as we rallied beyond 9/11.

Even the Master Cycle (MC) was faded as the MC was looking for a 9/2 Low and a rally into 9/11-14 MC High. OE week rallied beyond this date into a 9/17 high.

Ideally, we see some pullback into next week, before the rally resumes, with 1052-55 SPX as 1st support and 1033 SPX as Major support.

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