January 20, 2009

Market Review and Commentary for January 20, 2009

DISCLAIMER: These are trades I am doing and may not be right for
you. Use your own Due Diligence when making financial decisions of
your own choosing. This is NOT a recommendation of any security.
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I wanted to give you my technical setup for tomorrows trading – ONLY TRADE THIS IF YOU CAN WATCH THE MARKET – and place tight stops!

There’s an 85% chance that 7871 will be support for the DOW with a potential rally to 8370 over the course of the next few days.

The same setup appears to be confirming on the S&P500 with support at the 800 level with a potential rally to 840:

DO NOT BE TAKEN IN by this rally. The DOW is heading lower – but probably not until we have a short rest.

IF the market sells off hard tomorrow and does not bounce off these levels then watch the video for the next support levels.

Have no doubt though – this market is EXTREMELY weak and may not rally at all!

WATCH TODAY’S VIDEO REVIEW

Trade With Confidence