SPY - rangebound
XLF - still bearish
USO - bearish in channel
VIX - sidetrade with bearish divergence for SPX
A/D - numbers are bullish
ETFs - solid rally looking at the leading sectors
Analysis: despite a bullish move with the correct sectors leading (financials, commodities) and bigger volume, the charts are not convinced to the upside, therefore i am not convinced. just thinking of the day prior to analyzing the charts, i was feeling bullish as i was stopped out of my short and made some money with my long today...then after looking at the charts, i realized that nothing had changed...there needs to be continuation for the bulls...going into tomorrow, the safest thing is to hold positions and see how strong the pullback will be intraday..if its weak and bulls end the day with a higher close above intraday resistance, i will be bullish but for now, i don't want to add any longs and will head into tomorrow looking for a good short...
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