- Just rumors about a possible passing of the bailout plan is very very near
Technical Highlights
- Started strong but little blips in the day kept pulling the average lower and in the end, it ended way lower than its highs...bearish
- volume still way low...seems like nobody buying the rumors just yet
SPX....up but overall neutral
NDX...neutral...
XLF....very neutral
UUP...inching up but on possible resistance...a plan breakdown or revision might shoot up the dollar as the 700Billion dollar plan passing seems to be factored into the dollar already
USO...short oil!!!! plan will probably get delayed and revised as of the news today..and if that happens, dollar up, commodities down! Not to mention that resistance is very strong...good risk/ reward
Analysis: overall its best to just stay neutral and play individual charts...oil looks to fall and dollar looks go gain..so i would also look at shorts in commodities...but as news is ruling the market, its also great to just take a nice vacation from all this low volume bullshit..feels like the last week of august to me...very bullshit like...calm be4 the storm i guess right???
Ideal Portfolio:
- long dollar
- short oil and commodities
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