What's this?

30 yr.

This is ugly and not good. The 10 yr is not confirming on my metrics (yet), but this really bears watching. Rising yields will puncture this BS equity rally fast.

Wednesday Update

Jason over at SentimentTrader.com has put out some interesting stats this morning. Considering his musings and the fact that China is in the process of breaking down, I will probably call the Santa rally over (for me) if SPX breaks below 1112.

Everything is so thin this time of year it doesn't make sense to do much... certainly nothing big.

Crude is up a percent today waiting for an expected bullish inventory report.

Key Level

Look out for China!

Important post

Great post by Mish. Highly recommended!

http://globaleconomicanalysis.blogspot.com/2009/12/fictional-reserve-lending-and-myth-of.html

Target

Lets see if we can't hit the TD Wave projection around 1130+ on the SPX before the holiday seasonal period is done. In a post below I pointed out the TD Combo countdown need another two weeks of higher highs and higher closes. On the cash SPX it only needs one more.

What bothers me is that I hear more and more people calling for a correction to start the year.

Friday Update

Still in the slop for stocks. Still have positive seasonals but continued trading below 1100 for SPX or 600 on R2K may bring in sellers wanting to lock in this years gains. Real selling to occur below 1080 on SPX I would guess, if we get that far.