Tuesday, January 13, 2009

1/13 - Market Analysis

SPX - near support of channel


SPY - not quite a 100% retracement yet


RKH - not at support but bullish move here


USO - still weak


UUP - strong dollar, strong oil? somethings gotta give


VIX - hit resistance and failed...SPX bullish signal


A/D - even day

ETFs - energy and financials lead...interesting...


Analysis: a day of tight range trading today...financials and energy was strong as oil rose...dunno what to make of that...but charts mostly point to the possibility that today is the starting of sentiment from bearish to neutral and maybe tomorrow the bullishness starts....no guarantees as the major trend is still very bearish...most confusing i see is whether XLF will continue to drag down the market or will it lead the next few weeks...

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