Below is a PDF with the NHF weekly.  Click on it for the 2 page report.

If your looking to take a break from last minute Christmas shopping insanity here are some interesting articles:

Strategic defaults – conditioning, morality, or naïveté?  – THE BIG PICTURE

The Jobless Rate for People Like You – New York Times – Interactive

Seven U.S. Banks Are Seized, Raising Year’s Failure Toll to 140 – Bloomberg

SPY has not been making it very easy to be long for a breakout or Santa rally.  Below is a chart showing its support and resistance levels going into the last week of trading next week before Christmas.

This is what this past week has felt like:

Below is a video by Dylan Ratigan on MSNBC, who has been putting together some great work on exposing the financial nonsense going on out there.   It seems like the people of the United States would revolt with all these games the big banks are playing.

Visit msnbc.com for breaking news, world news, and news about the economy

The stock market is setting up for a possible breakout of a month long consolidation.  Below is a chart showing this.  We changed our position to long today. (Sold SH at $52.70 and bought SPY at $111.80)

Below is a PDF with the NHF weekly.  Click on it for the 2 page report.

Another funny CNBS video where Larry “Goldilocks” Kudlow, quote “Doesn’t want to paint a rosy picture” but absolutely tries… and rejects any intelligent remarks from the real estate expert.  You are the man Larry! Don’t let anyone that is an expert in a particular field challenge your all knowing brain.

Also here is a chart telling the story in California