Significant week - Significant week for market.

This will be a significant week for the market, as OPEX is apon us. 

The S&P  broke out of the bull flag and looks like it wants to work its way higher. 

I will say this, $22.8 billion dollars poured into stock funds last week alone, yes, you did read that right I said $22.8 billion dollars. WOW!, that is the beginning of a trend you will see continuing because the fed has stepped up and said QE purchasing may stop this year. I do not know if that is the case, or they are just playing games, however, many people with 401k's and mutual funds have been forced to look at investing in the stockmarket. That is what you saw happen last week.

So this week will be very significant. 

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eu bailout fund - approved

eu bailout fund has been approved overnight and the market shot up a bit higher! I do not have to tell you what a joke this eu bailout fund really is right ?

eu bailout fund approved....yes! But the bigger news comes with the FED announcement on THURSDAY! Many traders and analysts have been waiting, and the expectation is that they will announce QE3 or some sort of quantitative easing.

Well... your guess is as good as mine as to what happens. I could go on all night about the fed, and their evil schemes in regards to what is happening in the economy. If you think things are getting better out there in the economy, I mean in the real world you need to go to your doctor for a check up.

Anyway, with the eu bailout fund out of the way, on to the charts for THURSDAY!.

As you can see, the market has been flattish for the last few days. It almost seems to be creating a bullish flag. But overall we are still in the upwards channel.

What I do what to say here is that the markets and sentiment are still firm, however the last few days we have seen selling on the close, and some of it has been fairly big. 

Firm action, but it is interesting that we HAVE NOT taken out the old 2008 highs, the market really is having a hard time trying to do that lately.

We have the Fed decision tomorrow at 11:30am and also jobless claims, so it might be a day to wear your helmet with the chin strap! :-)

I'll be back tomorrow and we shall see how the market reacts to the big FED NEWS!

Happy trading. :-)

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