SPY - resistance holds
RKH - channel gives support
USO - breakout holds
DBC - resistance....not bullish yet
VIX - side
A/D
ETFs - financials strong
Heat - definitely financials stand out and materials go sideways
Analysis: With the exception of financials, i don't see many bright spots in today's action...but today's move seemed very much like pauseday despite a downtrend in the intraday chart...resistance held but i doubt that it will hold if we test it again...as we are deeply oversold, i am really thinking we will get a test and breakout quite soon that is why today i didn't add any new positions...only positions looking good are puts and for the most part, they look like they are running out of steam...maybe tomorrow i'll get into a new put position but today just gave me a bad feeling...
No comments:
Post a Comment