Morning Post, SPX, S&P 500, e-mini

Best Buy stunk it up. Gee, wonder what the 4th Qtr is going to bring for even more earnings surprises (as we have speculated here for some time). I guess BB does not get the benefit of FASB tricks the TBTF's do. That call rocked the minis about 5 points. Econ numbers not bad (if you believe them). I ask, how can you have strong numbers but not in electronics when all we buy are electronics?

Minis tried to fight back on the econ numbers, but the BBY call may have been a body blow that may take some time to recover from. Baltic Dry on verge of dropping below 2,000 for first time since August from a ZH tweet. That is not good either. Conflicting data? What is real is bad, and what is manipulateable is always better than expected (till revised). This game can not go on much longer. Denninger on BBY - Best Buy: Oops (That's a Miss)

I updated a ton of charts last night, so I am at least caught up on all the $ charts. Thanks for all your support there.

Looking at the 60m chart things do not look so good right now.

Speaking of the BDI - Note in this chart DRYS relationship to that index and tell me which one is out of whack? It is a 20% move just to cover the Island gap and get to the 30% retracement. That has nothing to do with evening up with the BDI.

Hard for me to go out on a limb with POMO around, but things look weak right now. Apparently all support is lost right now and down should be the path of least resistance for a few days. Looking as low as 1210 if not lower which is what form would suggest for this corrective.

GL and happy holidays!