– The markets are done correcting Price wise with the lows of 11/2/09.
– The rhythm of “last week of the month” highs and “first week of the month” lows is still intact and it has delivered us 11/2/09 lows
– Base formation is complete and we have broken through the Bear channel of the decline
– I am expecting, if at all, another hit on the broken channel that may occur between Wed/Thu with the FOMC related volatility
– But other than that – markets are headed up strongly to test October highs, and eventually beyond that

Chanakya/Smartp

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