The Main cycle seems to have bottomed on OCT 3rd, and from there has made a few attempts to climb above 1300 but has failed at least so far as DEC 23rd.
Even it the SPX manages to reach 1300, does that mean 2012 is in the CLEAR ??-- clear for what??
THE Jan effect has had a SEE -SAW effect on DEC
DOWN to the 19th and now up from there.
HOW will the year END?
To get some answers to that question, we need to look at what energy forces are in play for next week as well as at least the first 3 months of 2012.
As mentioned above the Main cycle bottomed on Oct 3rd, and the next 377 day cycle is now not due till April 2013, so the mkt is in NO hurry to make lower lows for 2012.
But that really tells us nothing about the short term.
What we usually think of as the Jan effect would be expected to carry prices higher all thru Jan as well as Dec; BUT since Dec was so mixed, we might expect a similar repeat for Jan 2012.
Thus, having reviewed the energy effects for the first 10 days of Jan leads me to look for some selling pressure to develop right from the start on Jan 3rd.
stay tuned for more
Jay
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