Friday, April 24, 2009

4/24 - Market Analysis

SPX - rangebound


SPY - big resistance


COMPQ - bullish


DJIA - slight bearish


RKH - resistance on superlight volume


USO - resistance


VIX - SPX bullish


ETFs - financials not leading


HEAT - not a very bullish heatmap


Analysis: many reasons to think this market is weakening when looking at volume...BUT as the bulls have been stubbornly strong so far, its still safer to stay long or even to buy a call than a put...critical areas are hit now and a breakout will be super bullish and a fall down will make us rangebound again...either way, its too early to go short...

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