Still Bearish

The US government is doing all it can from saying that the big banks are insolvent. All sectors except biotech is pointing downwards (based on weekly reading):

USA	Longterm	Midterm	Shorterm
S&P500	Down	Down	Down
DJI	Down	Down	Down
Nasdaq Comp	Down	Down	Down
Russell 2000	Down	Down	Down
AMEX Airline	Down	Down	Down
AMEX Biotech	Down	Neutral	Neutral
AMEX Natural Gas	Down	Down	Down
AMEX Oil	Down	Down	Down
AMEX Security Broker	Down	Down	Down
KBW Bank	Down	Down	Neutral (+)
KBW Insurance	Down	Down	Down
PHLX Housing	Down	Down	Down
PHLX Semiconductor	Down	Down	Down
S&P Retail	Down	Down	Down