2012-12-08 - MARKET UPDATE

SP-500

• Same as last week but we have little improvements in the daily.
• 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 - Toronto

• 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 - gold etf

• Need to close over 168$ before putting any new money to work !
• We have a little bottom possible in the daily and a pull back from 165 to 168$ is possible !

TLT - +20 years tresuary

• Need some time to consolidated between 124 and 126$ before any move to the upside - so let's wait and see before putting money to work;
• Still bullish with a first target of 127$ and second target of 132$  -  With a stop under at 124,00$;