Market TAO Thurs 10-15-09

The Earnings season run up is reaching a fever pitch high..... will it go much higher? ...Maybe .

There hasn't been any support for the US Dollar and it continues to drop.

The earnings reports continue to show a profit on cost cutting and inventory reduction and job cuts.

Company's dependent on export trade are benefiting from the cheap Dollar for now but sales and top line revenues are not increasing.

We are still losing 500,000 more jobs this week.....

Treasuries are so crowded if there is a rush to exit the crush will be massive.

My weekly analysis remains intact Spx will continue to grind higher to 1120 over the next 5 to 7 trading days..

I have noticed the Large block + 1000 traders have been far and few suggesting a change in sentiment and wider market action is anticipating a directional change.

my safest trade today is to buy as close to Spy 108.00 as possible and exit above 109 up to 110.00