What You Need to Know For This Coming Week

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CME – S&P 500 INDEX (Oct)?Daily

Intermediate Trend (3 Months):?Positive

Friday’s Close: 1243.50 (-.10)

Ways To Play This: ETF (SPY,SSO,SDS) or Managed Futures

UPDATE:Our closing statement, last week, as the market was trading near the 1170.00 region, was as follows;��Volatility remains high therefore this market can turn positive quickly, but it will take a weekly (Friday) closea bove 1225.00 to turn the trend bullish- tall order. Concerning the Bulls, a weekly close above 1225.00 is absolutely critical to having any chance of salvaging this market into the end of the year��. As of Friday��s close the Index surpassed the 1225.00 hurdle. As our readers are aware, at several points this year- and mainly when the market was falling �C July, September, and again three weeks ago, we reiterated, the Index should trade to a new yearly high (above 1370.00) in 2011. It remains a tall order, but we have been steadfast in our belief that this market was creating opportunity on dips.

Shorter Term Trend (1 to 3 weeks)

We would sell 25% to 50% of any allocation in the 1288 region and leave the remaining
exposure on if we get a push into the year end.

What To Do?

Very big week coming up, Friday being extremely important. Will the ECB decide to start buying Sovereign Debt hand over fist? Who knows, but it would spark a yearend rally to our target of 1375. However, we don’t invest based on hope and praying Central bankers get religion.

HUGH EUROPEAN DATES YOU NEED TO KNOW FOR THE WEEK OF DECEMBER 5th

! Monday t he 5th

Angela Merkel and French President Nicolas Sarkozy will present a plan to create a”stability union” after they meet in Paris.

Wednesday the 7th
The Greek Parliament votes on its 2012 budget, the budget is expected to pass without issue. It will include new austerity and growth measures aimed at bringing Greek debt under control. This must
pass in order to receive the next tranche of �8 billion ($11 billion) in EC/ECB/IMF aid. Almost a given it will go through.