Weekend preview 1-15-11

I really dont know how useful or interesting it is , but i'd like to start as usual with my 'big picture view' if nothing else, to explain why in the coming correction, i remain 'bullish ' overall. look, the market usually makes its yearly low early in the year ( early weakness, giving way to late strength= bullish ,remember?). The most likely time frame from seasonality and historical reasons are Feb -Mar or by Jun-July. The exact form of which is unknown of course. It could be a large mish-mash chewing up several weeks of time, or a steep decline of 80-100 handles. Imho, This time frame we are now entering, is ripe for the possiblility of an intermediate type decline to begin,at any time.

kool, are you still looking for an 80 handle correction like i have seen you post before? thanks, your analysis is great and surely very helpful

I am, but im still not sure that its started yet... i was also really looking for slightly higher prices just over 1300 for it to begin, but the danger is there,imho!

Here is last weeks profile with nodes marked green for HVN and red for LVN. We still have that gap open to 73.75. Will it be filled this week?