Markets rose to higher attention this Veterans' Day; but does this jeopardize "Santa rally"?

Seeing some markets like the Dow Jones Industrial Average make a new high felt right today, as the markets had signaled the past two days they weren't ready to have all indices join the downtrends already confirmed in many. Below I've included my daily chart of the Russell 2000, so you can see how it compares, and Tony Caldaro's DJIA chart (from his OEW site, thanks Tony!- you can locate his site in the list, and feed, at right). For the Dow, this also meant tagging the $10,334 level that retraces 50% back to its 2007 high. Hmmm ... That also means it's just hit the same typical B wave retrace the RUT did, and from which the RUT hasn't recovered.

From a timing perspective I am concerned now that the annual hope for a "Santa rally" may not work out. It didn't do much the past couple of years either. Besides, maybe it just isn't P.C. nowadays, who knows. Well, we'll just take it as it comes. For now - gold hit a key level as I've discussed and the dollar almost did the same as Timothy Geither was quoted saying the U.S. suports a strong dollar. Right. It may be a couple more days as the dollar, gold, and Dow/SPX test out these levels. By early or middle of next week, we should have more clarity on how strong of a turn we might get from these levels. (And the day after tomorrow, is Friday the 13th - brrrrr!).