Wednesday, April 22, 2009

4/21 - Market Analysis

SPX - in range


SPY - still bearish til proven bullish


RKH - support hold on huge volume


XLF - pulled back to neckline


USO - channel support


VIX - resistance holds


ETFs - financial rally


HEAT - safety stocks lagged



Analysis: today was a beautiful day for my predictions yesterday...things went perfectly and i was able to make exactly ZERO dollars..but more importantly, i was able to lose ZERO dollars...the stock market is random? bullshit!...anyway...financials are looking poised to move higher if it can ge ta continuation move tomorrow...if they move higher, they can bring the whole market up..but if they don't do much, the most likely scenario is a sideways move for atleast this whole week...a drop is looking less likely unless we can fall on huge volume tomorrow..i doubt it though but just stay on your toes as these past 2 days caught many offguard and it might be ready to do it again tomorrow...

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