Weekly Summary and Conclusion, week ended 21/1/2011

XAO: long/medium-term trends - Up.

XAO: short-term trend - Down

Dow and SPX - long/medium/short term trends: Up

Daily Indicators on SPX - Negative. Caution.

Nikkei - Medium Term Trend and P&F Chart flashing Caution signs.

Copper - P&F Chart reversed to down side.

Ozzie Dollar Chart - Negative. Caution.

Dow Industrials:Transports Ratio - flashing caution.

Australian XAO:SmallOrdinaries Ratio - flashing caution.

Asian nations (e.g., China, South Korea, Thailand) imposing anti-inflation measures.

Ben Bernanke’s QE2 program will probably sustain the American market in the long term.

Next Week: No idea. The probabilities for a down side correction have increased considerably.

Let the market show the way.

Major Support and Resistance for XJO: Above 4800 - bullish; Below 4583 - bearish.