back form the beach - High turning point?? Watch Friday's employment

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1926808

these chart ideas mirror mine so long as upside volume does not pick up for too long now that the election uncertainty is gone

I am reminded that the best down moves in 2008 began after bad employment reports

(February, June September)

so until then, we have a chance that tomorrow is Short Squeeze Wednesday with a light volume rally into 10am that will be sold. then consolidation thursday. so i do not want to get too short too early Upside targets are 1030 and 1060ish

if not we are headed back to 914-888 where the breakout retest would be complete

the first signs of a down move would be an hourly print and hold under 996 (Tuesday's 3 pm hour) and then 983 where the last breakout occurred on the hourly charts

seems like there are stocks breaking out in health care. MYGN in particular looks interesting and i am buying the open
the Stem cell stocks i bought are all looking not so hot but maybe tomorrow CUR, CBST, STEM, GERN, OSIR

I would not want to be long defense stocks like LMT, GD, NOC, CAI, SAIC(?), etc

notice that EBS, AVAV, pulled back while FLIR, ASEI, wnet sideways

all these big boondoogle programs are going to be on the chopping block ( i hope)

looking forward to volatility to start again as the market tries to figure our just who is Barack Obama

so far just some great speaches and a campaign team who used community organizing principles to reach out to the masses to fundraise and vote. unlike the elitist John Kerry, Obama connected with those people who would not get off their butts and vote last time in Florida, Ohio, Virginia, Pennsylvania etc which made the difference