The French CAC is often a good leading indicator for the American SPX. (See top chart, particularly January and April - down.) It is now clearly in a down trend with a Head and Shoulders Top (second chart).
It looks like crunch time for BHP. The upsloping wedge (bearish) has hit an important horizontal resistance line. A move down here will probably send our market into reverse.
Be careful
Red
redback report, week ended 1/10/10, page-6
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