Market Overview - Pre-Christmas Week

The market is still technically on the uptrend. However, the major indices are currently in consolidation since early November.

The volume on 18 Dec 2009 - a quadruple witching day (expiration of options and futures of both the index and stocks), for Dow Jones 30 Index was more than twice the average. Despite the high volume, the major market did not really budge from the previous day price. Based on such volume, one could expect a major move soon.

It is important to note that there are reports about major fund managers locking-in their profits as they are also protecting their potential bonus - after the market had rally since March this year. Should we then expect the market to correct soon. We shall see.

The major indices needs to break the following levels to convince us that the uptrend for the equities market is broken:

• Dow Jones 30 index needs to close below 9679 level
• S&P500 index needs to close below 1029 level
• Nasdaq Composite index needs to close below 2024 level

Cheers !

PersianCat (Millionaire-in-progress)

Jewish Holidays in 2010

Just a reminder. During the "no work permitted" Jewish holidays, the market for equities, forex and others will significantly drop in volume. Significant drop in volume could dramatically skewed price movement.The Jewish holidays for 2010 could be found in:

http://www.chabad.org/calendar/holidays_cdo/aid/672022/jewish/2010-Holidays.htm

Cheers !

PersianCat (Millionaire-in-progress)

2010 U.S. Market Holidays

January 1 - New Year's Day
January 18 - Martin Luther King, Jr. Day
February 15 - Washington's Birthday/Presidents' Day (3rd Mon. of Feb)
April 2 - Good Friday
May 31 - Memorial Day
July 5 - Independence Day (observed)
September 6 - Labor Day
November 25 - Thanksgiving Day
November 26 - Half-day due to Thanksgiving Day
December 24 - Christmas (observed)

- extracted from http://www.nyse.com/

Cheers !
PersianCat (Millionaire-in-progress)