9 JAN 2010, Sunday

• Daily SP500 continues slow drift upward and it's overbought.  Moving average guides are up...the 20 day MA (orange line) has been particularly important over the past year.  Still, caution is the word for me.  NYSI starting to roll over, bullish sentiment is a bit too rich for my blood, and we're still on the Hindenburg Omen from mid-December, too.  Could easily see a 5-10% correction beginning soon (within 2 weeks?)....from what price?  Do they squeak this up to just cross 1300 for giggles?  Or do they roll it around here since earnings season is upon us again?  We'll find out soon enough, it seems.
• Problem is that Da Boyz never let you know when.  They prefer sneak attacks.  
• Watch Friday's low.  May be important.  November lows will definitely be important if they come into play.  
• Very good read...possibilities.  Long term Buy and Hold types should review and consider whether you want to sideline for awhile or try to ride it out.
• Good luck this year!
• Now for some humor...Pelosi hands over the gavel to Boehner.