Daily Equity Market Comment - 12/12/2007

We remain in a corrective phase regardless of the reversal today.

I continue to look for one more leg down to end the correction in the 1451 area on the S&P 500.
The daily pattern today, an inside day after a long legged doji has very bearish implications.

These bearish implications only last one to two days which falls very nicely into the theme of one more quick smash down.

After this final leg down I anticipate an exceptional rally so we need to get ready with some solid equities that will do well in the rally.