Stez

This Week's Recap: Goldman's Sucker Punch

Looking at the weekly S+P charts the market hit it's head on the top of the yearly downtrend line.

It then has lodged at the bottom of this year's uptrend line.

It makes an asymetrical triangle and now we wait as the lines squeeze together which way it breaks.

This should be decided in the next ten days.

We also have to remember coming to the end of the year people want to book those gains.

My bias is a downdraft to around 900.

Though it can do this slowly rising each time to the top of the yearly resistance lines (sucking in money) and then falling lower with the muti year trend.