Technical signals all turned down 9 days ago for Dow, S&P & All Ords.
To-days rally on the Dow may be due to the fact that Obama suffered a massive loss in both VA & NJ elections last night. In VA the swing against the Dems from the last election was on the order of 25% and in NJ it was in the order of 20% which must be some kind of record. The Dems lost control of both states. NJ was a "hard core" Democratic stronghold state. IF this carries thru to the elections of 2010 then the Dems are toast. The bullish technicals of prior weeks look like burnt toast. All three Indexes have posted clear breakdowns from trend.
