Tuesday, January 27, 2009

1/27 - Market Analysis

SPX - at resistance


SPY - ascending triangle


COMPQ - strong resistance


RKH - hit a wall?


USO - failed bottom?


VIX - slicing through support


A/D


ETFs - all sectors in the black...


Analysis: As someone holding onto a call option, i am not feeling very confident going into tomorrow as charts look more bearish than bullish now...BUT this nearterm reversal back down is also not confirmed so its also too early to just throw out my exit strategy and load up on puts...odds favor a fall, but anything can happen...and since nothing is clear cut right now, i would say that the safest position is a small position...

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