Weekly Market Update, Outlook and Forecast--Week of December 30, 2013

Just a quick holiday post. The Yen pairs have hit their resistance areas that we have been tracking. Though I suspect risk off is coming, I won't touch a Yen short here until we get a daily breakdown. Per my tweet, I am watching the daily support in CADJPY (Canadian Dollar Japanese Yen) for a risk off Yen strength signal.  The S&P 500 has given a daily breakdown today. Here is the chart: There is no certainty this is the high, but the candle setup outside the upper bands is there today. This is countertrend as we are still above a rising 21 EMA. So, the areas to watch are the 8 EMA area and the 21 EMA area.  As indicated in the prior post, we need a move below the 21 EMA to be thinking the bigger bear thoughts. If the analog is right, we should break that level. Prior Weekly Market Update, Outlook and Forecast. There is always a bull path and a bear path. We cannot know which path the future will choose. As always, do your own due dilligence, read the disclaimer, and makey our own investment decisions. Happy Holidays! Peace, Om, SoulJester