MARKET  ENVIRONMENT  THE  SAME

I have been out of the country for the last three weeks and markets look about the same as when I left. Although some new highs were made, the market is once again below those highs. So far today, the Chinese markets are down 2.25%. To me, markets worldwide continue to appear vulnerable. It will take the until Monday to reacquaint myself with current conditions. However, by bearish scenario seems very much intact and seems to be waiting for some unknown incident to happen. Continue to be cautious!

KEEP AN EYE ON THE CHART BELOW FOR BREAK OUT POINTS BELOW RESISTANCE OR ABOVE SUPPORT AREAS. Particularly  watch for a breakout below Dow 17,147/17,000, NASDAQ 4605/4545, S&P 500   1991/1973. That would change the Intermediate trend to DOWN

Current	Dow	NASDAQ	S&P 500
	18,107	5,088	2,116
Short Term	DOWN	DOWN	DOWN
Int. Term	SIDEWAYS	SIDEWAYS	SIDEWAYS
Long Term	UP	UP	UP
ForecastedTrendd	DJIA	NASDAQ	S&P 500
Short Term	Down	Down	Down
Int. Term	?	?	?
Long Term	Sideways?	Sideways?	Sideways?
Breakout Points	DJIA	NASDAQ	S&P 500
Short Term Up (Resistance)	18,288	5,101	2,120
Short Term Down (Support)	17,147/17,0000	4605/4,5455	1,991/1,9733
Int. Term Up (Resistance)	18,974 See Fibonacci Projections above	5,002 See Fibonacci Projections above	2,486 See Fibonacci Projections above
Int. Term Down (Support)	15,855         /15,356 /14,688	4,166 3,986/3294	1,820 /1,560
Long Term Up (Resistance)	18,974	5,132	3,044
Long Term Down Fibonacci Support	50%12,000  62% 10,750	50%2,958  62% 2,555	50%1,390 62% 1,177
10 yr Treasury 2.05	Gold 1,183	Oil 59.78