3 OCT 2010, Sunday

• Daily chart...Week of nothing...back and forth.  Still consolidating above the 1135 area.  Wouldn't be surprised for another push toward the 1165 area.  The downtrend line still holds.  Momentum is stalling.

• Weekly was a nothing burger.  But it does show the trendline holds.  
• Breakout or fake out?  Question remains.
• Past couple of months have made it tough to have conviction either way.

• Retail folks are bullish...could get more so.  But they're toward the highs over the past few years.

• October seasonality is generally an up month...but September is usually a down month so maybe seasonality is being twisted.  Up in the air.

• And there is always Ben and the Squid ready to play the dollar destruction game. 
• Perhaps this isn't helpful...but there are so many moving parts right now and so little clarity.  It's definitely a trading environment.
• Sorry...it is what it is.