News that Federal Express (FDX) lowers guidance and is coming clean about its rising imput costs (apparently, tis the season to come clean in lots of businesses) could be the tip of the iceberg that is providing clues to us about expectations ahead of the forthcoming holiday season... In any case, have a look at the BIG picture view of FDX, which is in a powerful correction that has a way to travel on the downside prior to completion... and which likely is reflection of a softer than expected US economy now and going forward...

By Mike Paulenoff

Mike Paulenoff is author of the MPTrader.com (www.mptrader.com) , a real-time diary of Mike Paulenoff's trading ideas and technical chart analysis of Exchange Traded Funds (ETFs) that track equity indices, metals, energy commodities, currencies, Treasuries, and other markets. It is for traders with a 3-30 day time horizon, who use the service for guidance on both specific trades as well as general market direction

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