abu dhabi, dubai … almost musical, in a Beatles sort of way.

we got the move up thru the 1099 and made a move up to 1112, but did not quite get the projected target of 1117. we had 4 try’s at these 1112 highs and failed. we also had two try’s at breaking down thru the 1080 level. the friday dubai news broke the 1080 barrier and we went quickly to and past the 1074 downside target. Intraday, we have completed a retracement up of that down move and await the next signal up or down.

Sun nite S&P at 1093.75.

Long term –
we remain in the uptrend with the next target of 1209. a trade down thru 913 would change to a down trend. a trade down thru 1042 will start a pull back inside that uptrend to 972. cycle pressures are turning down and some indication of selling pressure coming in.

Daily –
we are in the pullback, next downside target is 1054. a CLOSE above 1089 will bring stops in very close. these downward cycle pressures end 12-2.