2012-12-01 - MARKET UPDATE

SP-500

• Need to close over 1420$ to stop the downward momentum strarted at the beginning of october;
• Wait before putting any new money to work because it could pullback to the MA200 (pink line) or the WEEKlY trend line (green line);

• Here is my view of the SP-500 for the next three months if we stay in the downward channel from early october !!! Not very bullish so take care on the market;

TSX

• The canadian market is a little more bullish than the US market;

• But it will be difficult to move over 12350$, witch is the middle of the last DAILY neutral channel and was a previous support in the first three months of 2012;

GLD

• Need to close over 168$ before putting any new money to work !

TLT

• Still bullish with a first target of 127$ and second target of 132$  -  With a stop under at 124,00$;