Weekly Snap Shot

I am of the opinion that the market is going to go down before it goes up. Fibonacci is supporting each of the major indices SPY 38.2% 121.00, DIA 23.6% 117.70 , QQQ 50% 54.50 and the IWM is between the 38.2% 70.75 and the 23.6% 73.21. SPY, QQQ and IWM are in a downward trend. The DIA is neutral due to a lower low and a higher high. This week is going to be interesting. I am going to continue to watch the EUR/USD. I cannot see how the Euro is going to survive. This should rally the dollar and drive the market down. Gold is in a bear trade with all of the metals. Most of the blogs I am reading are talking about the Santa Clause rally. I feel this is just a bunch of non sense. Let’s see what happens.