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Not so much to report this week and you are kindly requested to pay a special attention on the Technical issue, as we are close to the crossroads. Current week's trading status could be described as ''DITTO'' with last week. Newbuilding activity could be characterized as a dull one as well.

The only 2 notable things this week is some heavy selling of NYSE listed Shipping Companies with Dryships share to lead the drop followed by the Star Bulk Carriers. AND, something which could be characterised as national economic suicide for Yankees, the US Trade deficit with China just hit a new record high. Additionally IMF announced that China now has the largest economy on the entire planet on a purchasing power basis.

TECHNICALS: Some of you were asking this week via msges why region of 1620/1720 is a MAJOR resistance. Well, let me explain to you. Its a matter of Indicators' plethora located there Pals. Cyclical grey lines are strong resistances, and the last (upper one) is always a very strong resistance.

The blue lines you see in a shape of a fork, on which price trades inside there, is called ''Andrews Pitchfork'', (http://www.investopedia.com/terms/a/andrewspitchfork.asp), not always applicable but when it appears its a strong indicator. The last upward line of this ''pitchfork'' is also involed in that region. At that area Index jumps above the Ichimoku cloud (http://www.incrediblecharts.com/indicato.../ichimoku-cloud.php). FIBO number/sequence 62 pct retracement is included too, (http://en.wikipedia.org/wiki/Fibonacci_number).

ROC52 indicator is almost at zero trying to overcome it upwards. Plus the most important, inside those figures is our own blt ''Roponki Indicator'', but sorry this is our professional secret and cannot disclose/show to you at this stage.

Well as you can see, SO MANY CONVERGING INDICATORS BTWN 1620/1720!! (the two red horizontal/parallel lines). Another very important thing. In case there is a sustainable breakout of that region pls be prepared for a mini boom. Is it difficult? Of course its difficult and thats why we call it ''Major resistance''.

But, all supports and resistances sometime are penetrated except the TOP MAJOR ones, like the one around 700 during July this year, where was almost impossible to penetrate at least with the first approach. For your info FFAS/FUTURES are all down for both Nov and especially Dec, for all types and sizes of vessels. Further on, momentum on physical is also fading especially on Capesizes. Eventually ''crossroads'' especially in this particular case simply means ''Heaven or disaster''.

Stelios Lazaris, md Maritime Investments A.G. Zurich