Critical times ...

I want to post a quick update on the big picture which I will entirely review once I find time. I have been very busy during the last month or so, trying to complete the bulk of the biggest projects of my life before the new hectic trading year begins.

However, it appears to be I will continue to be busy in the near future, at least during the first few months of the new Hedge Fund I am opening in New York.

I will not let xTrends turn into a ghost website. There will be new contributors if needed, and I will always be around.

During the last week or so, some indices has advanced and violated their long term controlling xTrends. We have 4 trading days for these indices, Dow Jones Industrials and Nasdaq Composite, to pull back under their controlling trends else these indices will marginally break out of their long term xTs.

What this will mean that any intermediate term sell off in 2010 will be corrective and lead to new rally highs.

However, I think this breakout will not happen. In the next 4 trading days, we will likely get a sell off that will push these indices below the controlling trends and we will get a monthly/quarterly and yearly close below the xTs.

I will talk about the numbers and details in my extensive review after the month is over. But for now, especially watch Dow Jones Industrial, this index has to close the month near December lows for the bear case to work as I projected before.

I wish happy and successful new year to all xTrenders.