SPX week - 1st strong resistance
SPY - still uptrend
DJIA - big resistance
COMPQ - no resistance really, bullish
MDY - strong resistance
RKH - strong resistance overhead
USO - side
GLD - uptrend...
UUP - dumbass bernanke is killing the dollar
VIX - SPX bullish
A/D
ETFs - energy, health lagging? not good...financial rally for sure
HEAT - all quite strong but health and consumers
ISEE - rally lost steam late and gained steam midday..ISEE foretold it all
Analysis: not since the market began this deadcat bounce had i doubted the trend strongly...now though, i am getting very bearish on it...i am very very doubting that we will get over this hump without atleast a strong pullback...this will be the first big test for the bulls, and i am very sure that they will fail...what is likely though, since we are so bullish is that we get a pause day, slightly lower tomorrow...then a huge bearish reversal pattern caused on friday to bring down the indexes and next monday we fall hard...psychologically, today is the news....rumor brought us this far and now without more news to come, we should selloff and not know when it will stop falling...definitely eager to short this market...but fyi, i am still long a position as i never sell til stops are hit...anyway, great rally SPX, isee was all over it and hello Bear!
*update*...after a stock scan of my daily watchlist i noticed that there are many breakouts and more and more trades looking more bullish than bearish...its the first time my lists have gotten to be more balanced towards 50/50 longs and shorts...i think maybe i might be too hasty with the bearishness and forgot that we can still rally...chances are against the bulls but the trend is still on their side...so lets just wait and see what pattern the market gives us next...no more fighting the market
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