11-30-11

TF WAS NOT ABLE TO BREAK BELOW THE ZONETRADER PIVOT ON THE WEEKLY PROFILE AT 686.60 AND REVERSED MAKING A BULLISH BREAKOUT AND CONFIRMING AN UPTREND ON THE WEEK.  THE MONTHLY PROFILE FAILED TO CONFIRM A DOWNTREND AND HAS NOW REVERSED TO THE ZONETRADER PIVOT AT 728.50 AND IS TRADING SLIGHTLY ABOVE IT CURRENTLY.  THE YEARLY PROFILE TELLS THE STORY AS TF FAILED TO CONFIRM A DOWNTREND ON THE YEAR AND THE BULLS MAINTAINED CONTROL OF THE MARKET SUGGESTING TO LOOK FOR BUYS AND FOR A REVERSAL BACK TO THE ZONETRADER PIVOT ON THE YEARLY AT 800.70.  SO THIS IS OUR CURRENT TARGET.  THE QUARTERLY PROFILE WILL NEED TO MAKE A BULLISH BREAKOUT LOOKING FOR A CLOSE OF A DAILY CANDLE ABOVE 753.80.  LOOK TO BUY RETRACEMENTS THERE IS MAJOR SUPPORT AT 715.50  WE WILL TAKE ALL BUY SIGNALS ON THE MONTHLY, AND WEEKLY PROFILES AT THIS POINT AND LOOK FOR THE MARKET TO RETURN TO 800 OR HIGHER.