which way monday, page-26

Despite all the divergences and weak indicators, from a bear's point of view, there are a couple of things bothering me this week.

First of all the NASDAQ has abeen underperforming the Dow since September but last week took the lead again.

The other thing on my mind, which I have mentioned previously, is that I would be surprised if the market passed up the opportunity to run the shorts just above current levels on the S&P. I have always found that the market usually wants to cause the maximum pain in whatever it does and after such a long time of sideways action, there must be a tremendous number of orders just waiting to be triggered.

This is a huge week from my planetary studies. I have a turn date of 22nd extending to 24th. I had calculated this as a high but my last turn date of 3rd December which I thought would be a low, turned into a very exact high for our market as well as copper and gold and a low in the US dollar. Will the dates invert again? Should still be a reasonable chance of being a high. There is a lot of planetary action over the next couple of weeks right out to the first week of January. At this stage I have to say, from my analysis, I would be surprised if the market is still holding together after that time. If it is, then I guess I have to completely rethink my analysis. Now that would really hurt.