marKETS 12/22/08

Due to the holiday, I do not have time for a detailed post. However the e mini fell all day until the the last half hour or so. At that time it erased half of its losses for the day. Most days support has entered the market in the last 30 minutes or so for about a week. The volume 12/22 in the last 30-40 minutes was the least and most sporadic. Any serious buying would have lifted prices much higher. Despite the close in the middle, i would have to say we still have seen no significant demand and the likelihood is for lower prices.