10/5 - Weekly Market Analysis

SPX Week
- continue to hold shorts
- but watch for possible bounce as it is at the lower end of channel


NDX Week
- triangle pattern was very evident
- measured move from breakdown is near
- closed at last support
- expect consolidation or slight bounce
- hold shorts and take some profits as target is close


IWM week
- a freefall since its failure to break resistance 2 weeks ago
- last support of last 3 years is still kind of holding
- hold all shorts til a bounce is confirmed on daily


MDY week
- lowest week close in 3 years
- no good support left
- free fell as with IWM
- hold all shorts til bounce confirmed


XLF week
- weekly channel holding
- pattern on oscillators been great
- pattern suggest more pain
- BUT support from lowest close is holding...
- hold all shorts


CRB week
- steep fall continues
- no reason to doubt that its fall is losing strength
- support is around but still no buy signals
- no bottoms yet...hold all shorts


Bottom Line: everything is in decline mode...nothing tells to buy at these weekly charts...support is near for most but none have had a confirmed hold...possible support is good to be aware of, but not enough shake shorts out...