10/13 - Market Analysis

News - Discontinued indefinitely as Swami tells it best...better than i ever could...i step down as you are the lone news reporter now...

SPX
- huge rally, light volume
- resistance


NDX
- same as SPX


IWM
- same as SPX and NDX


XLF
- little different as it has little more room to move before strong resistance...
- laggard



RKH
- big laggard
- in strong resistance area


Analysis: Huge move...maybe too strong like what swami notes...from a purely technical perspective, today is a bottom...near term one to be safe and longterm one to be very brave...i prefer to be safer...anyway, i do expect this entire pullback leg to reach near the 61% retracement level on the major indexes...so basically i am bullish...tomorrow will see a rush of volume come back in as banks resume work but as on a very very short timeframe are overextended and on a daily chart we are at good resistance in a bear market, i really think that we will have a consolidation day at best and a 300 pt pullback at worst and a 100-200 pt pullback is what i am expecting...but followed by a continuing of the rally until atleast the end of the week...Swami is buying puts but i remain only with calls...i see a couple of opportunities to short but as i feel i need 1 more day to sort out the weakest from the mediocre stocks...

Sector Analysis (new segment)
- based on my etf list, here are the best and worst performing ETFs

Best
1. EEM
2. FXI
3. OIH
4. TAN
5. XLE

Worst
1. GLD
2. UUP
3. UNG
4. USO
5. GDX

basically...as many have noted, energy is good...but actually overseas is even better....and stay away from dollar related stuff, especially gold....