Sunday Evening Post

Good Evening Capitalists,

The S&P 500 broke to a new high to start the week and managed to build on those gains to close out the week. It was an important development that helped eliminate our most bearish wave count, though the preferred count suggests a major peak approaching. First and second levels of resistance for the week ahead are 1247 and 1261. Those were derived through Wave -5- targets (see attached document).

Bulls have clearly enjoyed a good end to the year; however, given the importance of the wave pattern being completed, it's more necessary than ever to adhere to some disciplined "stop losses" for length. 1219 looks to be an important support level. A break below 1219 will force me to initiate new short positions in the S&P 500.

Good Luck to everyone in the week ahead.

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In case you haven't seen the Metrodome footage yet, take a gander. This is what happens when man attempts to build bubbles in the middle of winter:

Market Discussion 12 Dec 10



Randomness Clip:

Just because CV allows this space/time to me to do what I will, I'll go ahead and occasionally post things that were of interest to me. I know Chet's a "fitness person," so he might find this fellow intesting.

The gentleman's name is Art DeVany. He's an interesting character who wrote the book on Hollywood Economics. Using statistical analysis, he's developed a diet and exercise model--his book, The New Evolution Diet, was just published this month.

Check out this 73 year old freak.