2006 Year end review

In 2006, RUT performed the best followed by INDU and S&P 500. QQQQ recovered the 10% loss from the mid-year and ended up more than 5%.

Both QQQQ and RUT are in the overhead resistence levels, only INDU and S&P 500 broke out. INDU is at all-time high and S&P 500 is about 100 points away from its all-time high.





Like YO-YO

The market acted like a yo-yo. Yesterday Dow Jones Industrial was down 115 and today it’s up 172. The blue lines might be the bottom for the short term. We shall see some upside to test the SMA 200 which acts like the dividing line of bulls and bears.

INDU, QQQQ and SPX

All markets suffered heavy losses last week. INDU broke its support at 10350 and the new support is above 10000. QQQQ broke the support, we shall see if it continues to decline. SPX is approaching the new support level. All markets are very over sold, but not so good economic data didn’t provide any incentive for buyers to step in. However, my personal view is that the market condition is not too bad, thus there may be a buying opportunity for long term accounts.