Down side range expansion continues--good trade opportunity

The downside range expansion continues and all systems indicate that market is going lower. You will notice the spike down to the 741 area in November. Will history repeat itself? i think to some extent it will. Traders should be on their toes for any spike below 741 overnight or early Tuesday morning.

I doubt we will see the monster rally we saw in November. But, looks good for a nice fat trade.

Complacent longs are still in the market and so far they have not capitulated. Sometime soon, very soon they are going to cry "Uncle".

clipped from charts.barchart.com

‘60 Minutes’ Lands Greenspan Interview

60 Minutes scored an interview with former Fed chief Greenspan and previewed some of the highlights in a press release today. Here is the text of the CBS release...more availabe....

clipped from blogs.wsj.com September 13, 2007 FORMER FEDERAL RESERVE CHAIRMAN ALAN GREENSPAN SAYS HE KNEW ABOUT ABUSES IN SUBPRIME LENDING BUT FAILED TO FORSEE THEIR PARALYZING MARKET EFFECTS UNTIL LATE 2005 – “60 MINUTES” SUNDAY He Defends His Lower Interest Rates that Critics Say Caused the Subprime Meltdown and Praises Chairman Ben Bernanke for His Handling of the Current Market Turmoil