Market Sentiment ww43

Market has shown solid pattern of double bottom, thanks to china good manufacturing data and EURO rescue plan, will market move higher towards end of 2011 ? currently S&P500 meet her resistance level, all eyes looking at this week FOMC meeting and Friday NFP.

Market sentiment ww42

Market rally ahead of EURO Brussels talk, but overall SPX weekly chart shown 20/40 SMA cross over and hit the reistence line, i reckon more downside to come, next week may see the effect of buy the rumours sell the news.

Market Heading lower

bodyhate to say that, macroeconomic no good, technically all 3 benchmark having same pattern to heading lower, 2007/2008 begin_of_the_skype_highlighting 2007/2008 end_of_the_skype_highlighting charts pattern repeat on this year.
SMA 50 become support / resistance ( black arrow ), previous 2 session unable to break thru, including yesterday close lower, we are heading even lower in coming weeks.
The support at 1120 become critical, break down will visit 1020, down some more will be 975..
tighten your stop level and preserve cash, short with small position

Market sentiment ww39

Finally, Qtr 3 already end, worst qtr since 2008. October traditionally Bearish too, let monitor this quarter earnings performance.