an tSionna 11/30/08: Good & Bad News.

Good & bad news in this picture. The market finally managed to break through these down trending patterns as evidenced by these blue lines. Unfortunately it did so on very light volume so it's hard at this point to say whether we have at least stopped going down for the time being.

If we continue to rally today then there is a much higher probability that the market could rally up to that next resistance line soon.

*Long various ETFs related to the S*P 500 in client accounts.