SPY - right at resistance
RKH - broke support on big volume
USO - still trending down
VIX - intraday resistance
A/D
ETFs - XLF only one in the red...thats not good...bullshit reversal?
Analysis: today's reversal sure was strong...very strong for not so good news...a bailout for something we didn't expect to need bailout money for should not cause a bullish reaction but it did...and well..only price pays...price says we held off support and hit resistance and now is right on that..trend is down and no stops have been broken....best is to continue to hold shorts, especially in financials until atleast the intraday resistance is broken and held...
No comments:
Post a Comment