Market Preparation for SP-500 Dec. 4, 2009:

Possible Scenario: Decending Channel expect flat or gap down to stay in the channel a gap up would lead to new highs. Mostly confusing read the tape. Now even more confusing. Except I cannot find any breakouts almost everything was red today.

Updates will be based upon weekly predictions with this week scoring a 3.5 out of 5 as flat hugged the channel and then tanked it did drop but it was mostly confusing as mentioned above.

My expectations for the SP-500 are based upon the current down movement inside the channel.



Setting up new scan parameters as the last set of scans were not following through and I am really just interested in finding quality plays.

Breakouts: INFN, GSI, RIGL, KERX, (Set Order just above High resistance)
Previous Potential Breakouts (Looking back 5 days): CAR, AAU, PIR, ALD (I), LXRX (I), GRT (I), QCC (I)

Breakdowns:
Previous Potential Breakdowns: PMI, MNI

Dip Picks: SRZ, NABI, CRNT, REX,
Previous Potential Dips (Looking back 5 days):

Rip Picks:
Previous Potential Dips (Looking back 5 days):

RFR Picks: GGR, AXU, MTG

Top Pick: Imminent Plays (Look for gap downs or gap ups beyond resistance)

Top Missing Piece: Stay in the channel?

Good Luck,

Tyler