Tuesday, April 14, 2009

4/14 - Market Analysis

SPX - resistance hit?


SPY - trendline intact


COMPQ - resistance


NDX - not resistance yet


IWM - resistance


RKH - support?


VIX - bearish


ETFs - financials lagged


HEAT - nothing safe



Analysis: glad to be back to having time to fully analyze the charts...best trade now is still the long play...uptrend not broken yet...some charts looking scary though because the majority of them are at resistance...but thats not enough to start shorting...a great reversal might be coming up but the charts aren't comfirming it yet...most likely i think we will have some more sideways moving days....bears too scared to short and bulls too loaded with longs to buy more...

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