STOCK INDICES RECAP

December S&P closed up 6.5 at 1043.8. This was 14.5 up from the low and 1.5 off the high.  December S&P E-Mini finished up 6.25 at 1043.5, 1.75 off the high and 
18 up from the low. 

December Dow finished up 21 at 9552, 13 off the high and 87 up from the low.  

Technical Outlook
S&P 500 (DEC) 09/15/2009: The upside crossover (9 above 18) of the moving averages suggests a developing short-term uptrend. Momentum studies are trending higher
but have entered overbought levels. The market's short-term trend is positive on the close above the 9-day moving average. The daily closing price reversal up on
the daily chart is somewhat positive. A positive setup occurred with the close over the 1st swing resistance. The next upside objective is 1057.00. The market
is becoming somewhat overbought now that the RSI is over 70. The next area of resistance is around 1051.90 and 1057.00, while 1st support hits today at 1035.10
and below there at 1023.40.

S&P E-MINI (DEC) 09/15/2009: The upside crossover (9 above 18) of the moving averages suggests a developing short-term uptrend. Daily stochastics have risen
into overbought territory which will tend to support reversal action if it occurs. The market's close above the 9-day moving average suggests the short-term trend
remains positive. The daily closing price reversal up is a positive indicator that could support higher prices. Market positioning is positive with the close
over the 1st swing resistance. The near-term upside objective is at 1059.18. The market is approaching overbought levels with an RSI over 70. The next area of
resistance is around 1053.37 and 1059.18, while 1st support hits today at 1033.63 and below there at 1019.69.
NASDAQ (DEC) 09/15/2009: Daily stochastics have risen into overbought territory which will tend to support reversal action if it occurs. The market's short-term
trend is positive on the close above the 9-day moving average. The daily closing price reversal up is a positive indicator that could support higher prices. With
the close higher than the pivot swing number, the market is in a slightly bullish posture. The near-term upside objective is at 1708.00. The 9-day RSI over 70
indicates the market is approaching overbought levels. The next area of resistance is around 1700.00 and 1708.00, while 1st support hits today at 1676.00 and below
there at 1660.00.

DOW (DEC) 09/15/2009: Momentum studies are trending higher but have entered overbought levels. A positive signal for trend short-term was given on a close over
the 9-bar moving average. The close below the 2nd swing support number puts the market on the defensive. The near-term upside target is at 9572. The next area
of resistance is around 9515 and 9572, while 1st support hits today at 9419 and below there at 9380.