It Looks Like Reliable Lead Indicator Walmart (WMT) Will Fill It's Downside Gap At 46.90 As Expected

It looks like reliable lead indicator Walmart (WMT) will probably fill it's downside gap at 46.90 as expected, see http://finance.yahoo.com/q/ta?s=wmt&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c=.

The WMT Lead Indicator is very bearish right now, at well over -1.00% versus the S & P 500 (SPX), see http://finance.yahoo.com/q/ta?s=%5EHUI&t=1d&l=off&z=l&q=l&p=&a=m26-12-9,p12,fs,w14&c=wmt,%5EGSPC.

The market had the usual early Monday dumb money bounce, see http://finance.yahoo.com/q/ta?s=%5Espx&t=5d&l=off&z=l&q=c&p=&a=m26-12-9%2Cp12%2Cfs%2Cw14&c.

It looks like I'll probably go long the Ultra Long Russell 2000 (RUT) ETF UWM today, shortly after WMT (probably) fills it's downside gap at 46.90. The Russell 2000 (RUT) appears to have put in a major intermediate term cycle low on 1-9-08, see http://stockcharts.com/charts/gallery.html?%24rut. Note the bullish very large inverse spike on 1-9's candle.

The action and cycles/Elliott Wave count for gold (http://stockcharts.com/charts/gallery.html?gld), oil, and probably wheat, sugar, etc (based on a quick look) points to very important peaking action. Basically a bubble, a very important cycle peaking, has occurred in many commodities.

....... http://www.JoeFRocks.com/ .