Tuesday, December 9, 2008

12/8 - Market Analysis

SPX - bullish


SPY 30" - bullish


UUP - commodities bullish


XLF - bullish


USO - bearish


VIX - SPX bullish


A/D - bullish


ETFs - bullish (financials lead)


Analysis: Most charts looking bullish. despite not wanting to believe the rally, all i can do is listen to the tape. and right now the tape says that the uptrend is not over yet. in fact it might have just started...i can predict that this rally will fail as fundamentally the worst is not over yet and technically, the volume is mediocre...but what good are predictions when i am a trend follower?

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