This in from part of Jay Taylor's newsletter.....from Roger Wiegand Sorry about the choppy way it "pasted."
Dow Jones Industrial Average:
Closed 10,609.65 -100.90 on flat momentum and normal volume. The close was in the lower portion
of the trading range signaling more selling next week. Considering this is a three-day holiday weekend, we were not surprised. While
stock markets are getting toppy and signal a forth-coming sell, we think they still have some juice left and should recover and go
higher next week. Resistance is 10,750 and support is the 20 day average at 10,560.48. Price remains above all moving averages,
which is bullish.
Look for a selling day on Tuesday (post-holiday) with a small recovery to follow. There is a normal market
correction due in February and we will deal with it by alerts. The next first half rally runs from March to May after a new
correction.
S&P 500 Index:
Closed at 1136.03 -12.43 on normal volume and flat momentum. A double top resistance at
