US Markets - Jan. 04, 2010

As the hopefulness of the new year fades, the downtrend will resume in the US markets. The S&P 500 managed to close below 1121, on a weekly and monthly basis, not a hopeful sign. The number to watch on the DJIA is 10340, once this breaks...it should start this set of dominoes in motion...setting up a test of 10235 and a confirmed break of the uptrend line from March of 2009. This break should coincide with the breakout in the dollar and breakdown in gold prices. Complete update in Positioning for 2010 Part 2, which I will post this weekend. -Dio.