The moment of the truth

Dow crossed 12600 level again today, as noted before, this is an important level, if  the market can hold in this level, we may see 13000 level soon.   It is certainly a good day, as Bulls are vindicated by the action after yesterday's rate cut , as saying goes who laught the last laught the best, and certainly the bulls has the best laugh today

It makes tomorrow's job number crucial,  a good number will push the market higher and instill  much needed confidence into the market.

However, the month is brutal.  If the so called "January effect" is true, then, we will face a volatile year.

When market began trending down last Summer, a lot of analysts noted divergence between major market indexes and Dow Jones transportation index, lately, we can say that they are  diverging again, but this time, it is the transportation leading the way.   If you look at  R,  JBHT, CNW etc, they are making the 6 monthes high, does this mean the market has looked ahead of the recession?  If this is indeed the case, Febuary could be a good month.   Hopefully