SPY - break up or down?
QQQQ - strong resistance
RKH - strong resistance doji
USO - support?
GLD - good support
VIX - side still
A/D - bull volume
ETFs - important sectors still leading
ISEE - sideways day
Analysis: Right here there are many technical reasons to do nothing and wait. resistance is strong in most charts so they are more likely than not to hold...but just cause we are so oversold and we are above and holding the 5ma, it seems too quick to just short this rally. these bear market rallies sometimes come much stronger than any technicals might assume...i would love to be able to just short the hell out of the indexes, but it just ain't right yet...QQQQ looks the most ripe though and GLD looks great for a long....SPY tomorrow will show us where we are heading next...i am positioned to the longside with a hella tight stop...just seems like a better risk / reward on my gut...
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