3/31 - Market Analysis

SPX - holding MAs


SPY - bullish and bearish


RKH - MA cross going to hold?


XLE - bearish


XLE 30" - the laggard


OIH 30" - side or bullish reversal coming up?


VIX - side


A/D


ETFs


HEAT - energy, consumer, and health lag


ISEE - lack of participation of calls throughout the day since morning


Analysis: other than selloff late in the day, market was very strong...i kept looking at it hoping to short, but it never stopped rising...pretty damn strong..was doubting it all day and because of that, i was never able to short...last 30min gave a chance to short though...tomorrow might be a huge fall from here...but i think that support might actually hold...might actually just be a very boring side sideways from here for the rest of the weak which would be very bullish for the indexes going forward...i would feel so much more bearish if the SPY did not move above its 30min MAs, but since it did, i do have to respect it and just be cautiously bearish...unless we i see a beautiful shorting opportunity tomorrow, i'll prob just watch from the sidelines...ohh..one interesting note is i think that we are having strong sector rotation...i mean that we are having a new leader of the indexes...first USO dictated the market, then RKH....now i think it will be USO and OIH...energy is a big component of the DJIA and definitely is closely tied to the world economy so it all makes sense to me if it does...looking at XLE and OIH, we will keep falling...