SPX HOD 851.85 is a resistance which is the comparative resistance to the Qs 30.50 +/- resistance -- again, market actions going into close is important.
Breaking above is the scenario which I noted the 1/20 CIT to upside bounce based on the stimulus program. The scenario is favorable for the Oct 2007 top as the VLT 5th top and Nov 2008 bottom as wave A correction scenario.
Extremely negative market sentiment selling off at the noted resistances: SPX 851.85 and Qs 30.65
Until proven otherwise, we have very negative market sentiment and unstable geopolitical issues which I think that markets are discounting the instability.
We have very bearish market sentiment and geopolitical instability which is progressively getting worse. We have a war rumor potentially during Feb - Mar.
Until proven otherwise, we have very negative market sentiment which is also re-enforcing the sentiment and geopolitical instability on the top of economic crisis.
Kyrgyzstan to close key U.S. base updated 12:40 a.m. EST, Wed February 4, 2009
(CNN) -- The Kyrgyz government is planning to close a strategically important U.S. military base that Washington uses as a route for troops and supplies heading into Afghanistan, Russian media reported Tuesday.
MOSCOW, Russia (CNN) -- A Russian-led bloc of post-Soviet nations has agreed to establish a rapid-reaction military force to combat terrorists and respond to regional emergencies, Russian media reported Wednesday.
The decision came a day after reports that Kyrgyzstan is planning to close a strategically important U.S. military base that Washington uses to transport troops and supplies into Afghanistan.
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