Nasdaq Chart

Well looks like Obama is back in there is no surprises there, many people are taking their shirts off, getting drunk and celebrating, however they are forgetting 1 simple thing. Obama has done nothing to save the day, and noone, I repeat! NO ONE is better off then they were 4 years ago.

This man has rocks in his head if he thinks he can solve the current economic crisis. Anyway, I am on a rant so lets go over and take a look at the markets today.

The nasdaq chart shows a nice downwards channel. We have been inside this for many weeks now, and we will remain inside this until we break the upper falling resistance line at about the 2700 level.

I loved how yesterday they celebrated OBAMA getting back in, and then swiftly took out all the stops and back down we went. Classic manipulation at its finest. Maybe they were sending a message to obama, I don't know but it was very choppy.

Now we get to see if this was just a one day event or we head back down. If we go under 1380 on SPX that would spell real trouble. But for now we wait and see.

Nasdaq chart

WHAT IF YOU KNEW WHICH WAY THE MARKET WAS ABOUT TO MOVE BEFORE IT HAPPENED?  CLICK HERE To Join Our VIP ELITE GROUP  -- 30 Day Trial Offer Today!