Viacom, NYSE:VIA.B Chimera Investment Corporation, NYSE:CIM, Giant Interactive Group Inc, NYSE:GA, Golden Agri-Resources Ltd,
SIN:E5H, Univanich Palm Oil Public Company Limited, UVAN, Arrow Resources Development Inc, OTC:ARWD, Yee Lee Corp, YLEE, 5584

Wall St, Singapore, Thailand, Malaysia, Indonesia

Many are touting Wall Street’s rally is running out of steam as the S&P 500 retreats from a 2010 high and the resistance at Key levels looks too much for the market to absorb.

The index so far has been unable to move above 1,228, the key resistance level, and the chart is starting to form a classic double-top formation, one of the most bearish signals possible.

I have bought ahead of a data-heavy week that I feel will give investors hard evidence to justify a rally that lifted the S&P 500 16.8% from its August 31 close to the 2010 closing high it hit last week.

The data should be sufficient to see 1228 fall and a new rally begin. Such a rally will fuel a Commodities Super Cycle the Paul Ebeling has noted this weekend ahead of Mondays open.

At this point there is no doubt the market is very susceptible to a pullback, the market looks set to go a little lower, however some clarity on US Fiscal policy and data reflecting even a mild recovery will see a change in investor sentiment.

Last week, the Dow Jones industrial average and the Standard & Poor’s 500 index  each fell 2.2 percent. The Nasdaq Composite index lost 2.4 percent.

The S&P 500 hit the 61.8 percent retracement of its slide from the historic highs in 2007 to the low in March 2009.

This was the second time the index moved away from the resistance at 1,228 and its chart could be drawing the dreaded bearish double top formation.

The last retreat from that level, in April, was the start of a correction that took the S&P to its 2010 low in July. Needless to say, it is a dangerous week coming.

The S&P 500 fell below the 20-day moving average for the first time since September 1 but managed to rally and close above the line in a sign that that level, just above 1,194, has strong technical support, that combined with positive news and investor sentiment could push the Index over 1228.

On the big news list this week is the meeting Thursday between U.S. President Barack Obama and congressional leaders to discuss policy and tax cuts.

Republicans have vowed to force a full extension of all tax cuts enacted during the administration of President George W. Bush. Otherwise, the tax cuts expire at the end of 2010.

Most of Obama’s Democrats favor extending tax cuts only for the first $200,000 of income of individuals and $250,000 for families. It is estimated that the Tax Cuts added significantly to USA GDP, anything but a full extension will hurt the market, for now.

In January the Republicans become a major power player in US policy and it may be back on the table.

The big numbers this week are abundant, from manufacturing to leading indicators to retail sales, and, perhaps most importantly, inflation will return Wall St investors’ attention to market fundamentals.

The Full Report

Contacts
Corporate Services
Ebeling Heffernan www.ebeling-heffernan.com
Funds Management
Heffernan Capital Management www.heffernan-inc.com
Email : info@heffernan-inc.com
Mr Woraphop Viriyaroj is a Chartered Financial Analyst (CFA), Certified Investment and Securities Analyst (CISA) and holds a degree in Industrial Engineering.
Chutinush Taksinapinunt holds a Bachelor of Business Administration degree Majoring in Finance and Banking. Chutinush Taksinapinunt is an experienced Market Maker and Portfolio Manager having worked with some of Thailand’s largest Securities Companies and Financial Insitutions.
Paul Ebeling is a CO-Founder of Ebeling Heffernan Asia’s fastest growing Advisory Firm and is a Senior Dark Pool FX, Equity and Commodity Analyst at Heffernan Capital Management. www.heffcap.com

Price Estimates by Shayne Heffernan PhD Shayne Heffernan of Ebeling Heffernan www.ebeling-heffernan.com prepared this report, Mr Heffernan holds a PhD in Economics serves as CEO of Heffernan Holdings www.heffernan-inc.com and oversee’s trading at Heffernan Capital Management He is also Co Founder of Ebeling Heffernan www.ebeling-heffernan.com the fastest growing Financial Services company in ASEAN.

Bangkok
Suite 53 Athenee Tower 63 Wireless Road, Lumpini, Pathumwan, Bangkok 10330 THAILAND
Tel: +66 2 126 8000 Fax: +66 2 126 8080
New York
347 5th Avenue, Suite 1402-508 Ny, NY 10016
Tel: +1 646-403-9881 Fax: +1 646-403-8014
Singapore
3 Raffles Place #07-01 Bharat Building Singapore 048617
Tel: +65 6329 6408Fax: +65 6329 9699

Disclaimer
Ebeling Heffernan (EH) distributes research and other information purchased and compiled from outside sources and analysts. This report/release/advertisement is a commercial advertisement and is for general information purposes only. Do not base any investment decision on information in this report/release/advertisement. EH is not a registered Investment Advisor or a member of any association for other research providers. Under no circumstances is this report/release/advertisement to be used or considered as an offer to sell or a solicitation of any offer to buy any security or other debt instruments, or any options, futures or other derivatives related to such securities herein. All information herein is not intended to be used for investment advice. Price Targets are academic theory and should not be relied upon. The majority of these profiled companies are highly risky OTC Bulletin Board or Pink Sheet companies. All readers of this information indemnify EH from any liability for all accessed information. EH will not be responsible for updating any of its information in its report/release/advertisements. EH advises recipients of all such data to be validated from the issuing company including all statistical information derived from SEC filings, from data sources or financial information and data from the issuing company contained herein. The reader should seek professional financial advice, verify all claims and do his/her own research and due diligence before investing in any securities mentioned. EH will not be liable to any person or entity for the quality, accuracy, completeness, reliability or timeliness of information in this report/release/advertisement, or for any direct, indirect, consequential, incidental, special or punitive damages that may arise out of the use of information, products or services from any person or entity including but not limited to lost profits, loss of opportunities, trading losses, and damages that may result from any incompleteness or inaccuracy in any of EH’s profiled companies. When paid in stock, EH its affiliates, directors, officers, outside sources, investor awareness groups and employees may liquidate shares at any time or hold for investment purposes. Readers are advised to review SEC periodic reports: Forms 10-Q, 10K, Form 8-K, insider reports, Forms 3, 4, 5 Schedule 13D, www.sec.gov.nasd.com, www.pinksheets.com, www.sec.gov and www.finra.com. SPC is compliant with the Can Spam Act of 2003. Investing in micro cap and small cap securities is speculative and carries a high degree of risk. Investors can lose their entire investment. The Private Securities Litigation Reform Act of 1995 provides investors a ‘safe harbor’ in regard to forward-looking statements. EH cautions all investors that such forward-looking statements in this report/release/advertisement are not guarantees of future performance. Investors should understand that statements regarding future prospects may not be realized. This report/release/advertisement does not have regard to the specific investment objective, financial situation, suitability, and the particular need of any specific person who may receive this report/release/advertisement. Investors should note that income from such securities, if any, may fluctuate and that each security’s price or value may rise or fall substantially. Accordingly, investors may receive back less than originally invested, or lose their entire investment. Past performance is not indicative of future performance. The Company has not paid compensation for this commercial advertisement. HCM. has written this commercial advertisement for EH.

Posted by Shayne Heffernan on Nov 14th, 2010and filed underAnalysis, ASEAN News, Asia, Australia, China, Commodities, Commodities, Economics, Economy, Emerging Markets, Energy, Equities, Exclusive, Financials, Futures, Health, Heffernan Capital Management, Hot Topic, In Depth, Indonesia, Industrials, Japan, Latest News, Malaysia, Markets, Media, News & Events, Philippines, Retail & Consumer, Shayne Heffernan, Singapore, South Korea, Special Reports, Stocks, Taiwan, Technology, Telecoms, Thailand, The Hot List, Transport, USA, World News.You can follow any responses to this entry through theRSS 2.0You can leave a response by filling following comment form or trackback to this entry from your site