US Markets -Dec28 ,2009

I hope everyone had a pleasant holiday. Markets have managed to close above their resistance levels. This is normally a very bullish signal, however on such light volume it remains suspect. S&P 500, DJIA, and Nasdaq are all 100% overbought across the board...on daily, weekly and monthly charts...a very dangerous sign. EUR/USD - is undergoing its counter trend retracement and should resume its decline shortly...once this retracement is complete the top in the euro will have been confirmed...short term target remains 1.40. The remnants of the Santa Claus rally should be used as a final selling opportunity. -Dio.