China & Japan UP nearly 3%.....but who cares?

NDX Daily Close @ 12/26/2012

Outstanding gains in the major Asian indices & Wall Street simply 'ignores' the price action?
What gives?
The 'Grinch' may well have stolen the Year-End festivities with a stumbling end to a 'stumbling' year?

GE Weekly says early 2013 may be 'risky'....

GE Weekly Close @ 12/21/2012

General Electric (GE); like Apple (AAPL) is important.
Where it 'goes'; can the broader market ever be far behind?
Last week's Outside Down Weekly pattern sets up the potential for another leg down off of the late September highs.

Chart of the Day: GE (General Electric)

GE: Daily Chart @ Close 12/19/2012

Similar to Apple (AAPL); GE never strays far from the overall (S&P500) Index, so will the Index follow GE lower?
What's good for GE is certainly 'good' for the broader market.
Into Year-End; market machinations may prove to be a rather 'choppy' affair?

Apple says 'not so fast' for the Bears......

Apple (AAPL) Daily Close as @ 12/17/12

Just as the 'bearish' juices got flowing late last week; Apple puts in an 'Outside UP' day come Monday.
This should (emphasis: should) set the foundation for a significant attempt to retrace & potentially put to the 'test' the Negatively Crossed 50/200day SMAs on both Apple & the NDX100 as well.

NDX100: 50 x 200 Day SMAs Cross Negatively....

NDX100 Daily Close @ 12/13/12

Indecisive Chart patterns witnessed Wednesday (12/12/12) heralded the immediate  Short- Term corrective price action lower (See NYSE post below).
The NDX100 has closed below the Negatively Crossing 50/200day SMA's; a noteworthy & bearish signal.
A Weekly Close below (2670) would go a long way to signalling a more substantial correction could well be in order.

NYSE: FED launches another QE 'round'.

NYSE Daily Close @ 12/12/12

'Buy the rumor, Sell the fact?'.....FED weighs in with another round of QE; to what effect as @ the marginally 'diminishing returns' are more than evident in the economic stats?
At the very least a 'pause' to reflect should be in order with move back to 8200; a simple 38% retrace of the gains since mid- November.

S&P500: 1424 gets 'bettered'; so what gives?

Philly Banking Index ($BKX): Daily Close @ 12/11/12

The S&P500 'negates' the immediate 'Bearish' prognosis, yet the banks that should benefit from the rumored FOMC/ FED announcement that another $45B/ month in QE is 'due' tomorrow.....fail to join the > 1424 'party' (note the indecisive pattern 2 days running).
That makes for a cautious stance as the year-ends......Santa notwithstanding.

NDX100 'Risks' appear obvious..........

NDX100 Daily Close @ 12/07/2012

It would appear that the 'balance of risk' is skewed to the downside.
Apple's chart looks like a Bear Trend; the S&P500 needing to stay below 1424 to add weight to the 'Bearish' prognosis.
USD Index 'strength' and a potential turn lower for the EURUSD are coinciding with this 'set-up'.
Something's 'up' & that does NOT appear to be an appetite for Risk.

Where the 'Apple' falls...can the NDX100 be far behind?

Apple (APPL): Daily Chart Close @ 12/06/2012

The impending Negative Cross on the 50/200day SMAs is now hanging over not only Apple; but the NDX100 (APPL: 15% Index).
Whilst Friday's Non-Farm Payrolls are the major catalyst for markets in general; Apple demands scrutiny as its influence is substantial both in weighted terms on indices (NDX & S&P500), but also in 'sentiment'.

NYSE/ S&P500/ Small Caps all 'reverse'.........

NYSE Daily Close as at 12/03/2012

Note the Outside Down day Monday; the 'higher high/ lower low' (AKA: Bearish Engulfing Candle) from Friday's trading with a negative close.
Bearish.....period.
The S&P500 + $SML (Small Caps) both confirm, only the NDX100 not joining the 'party'......yet.

NDX100 & Small Caps do what they are supposed to; but....

NDX100 Daily Close @ 11/30/2012

Equity Markets took their early week pause; pushing higher into Friday with the NDX100 & Small Caps both outperforming.
Only 'wrinkle' is the consecutive days; Thursday & Friday, with Indecisive Candle Chart patterns for the NDX100. This suggests the potential for a larger 'correction' of the rather fast 8% gains.
There is also a GAP @ 2604.50 that needs attending to: a 'closure'.