Weekly Update 03-01-2010:

The market had a lot of up and down motion last week, starting out at 1109 with an intra-day low on Thursday of 1086, closing the week on Friday at 1104.  So for last week we had some bearish indications of Lower Lows and Lower Highs, which though they were not of a great magnitude is a slight downtrend for the week.  As we mentioned in previous reports, as long as the market continues to close near or preferably below the 1110 Fibonacci level of 61% retracement of the January 19^th decline, then we will continue to expect this decline to accelerate.  Therefore, we will be keeping a careful eye on the markets behavior around this level.  Mondays are always a bit concerning for some strange reason for the last 24 weeks, 21 times the market has rallied on the first trading day of the week; that’s an 88 percent ratio.  This is bizarre and hasn’t been a known statistic historically for the markets.  It is part of what has led to growing suspicions of market manipulation.  So in the future, if we happen to mention that the “Three Musketeers” (Mysterious Market Manipulators) have come to the market’s rescue, you’ll know what we mean.  Whether that’s the case or not, we could expect some upwards pressure today being a Monday and the first day of a new Month.  So we will be on guard for the MMM’s or whatever it is that may be pushing the market up and keep you posted.  Until notified otherwise, we remain in our SELL position.  Yours for Safe Sailing in Bull and Bear Markets.