Tuesday, December 9, 2008

12/9 - Market Analysis

SPX - bearish


SPY - bearish


DJIA - slightly bullish


XLF - bearish

VIX - neutral



A/D - neutral


ETFs


Analysis: daily charts showing that the 50ma might turn out to be the point where the rally ends...charts turning bearish but needs confirmation tomorrow to be tradable...short term chart looks gloomy as today was not just a pullback day, but a day that sketched out topping price patterns in many charts...i was very tempted to short but as the day ended quite neutral with neither bulls nor bears winning in the last half hour of the day, i decided to wait for more confirmation tomorrow...

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