Friday, May 1, 2009

4/30 - Market Analysis

SPX - side at resistance


SPY - steady and up


RKH - bearish divergence with SPY as its sidetrading, not rising


USO - consolidating


VIX - finding support?


ETFs - financials not making much noise


HEAT - no sectors stand out


Analysis: RKH basically is gauging the market better than SPY in my opinion...as i follow the market, i tend to just feel like we are just sidetrading straddling resistance...and RKH is showing it exactly as it is...resistance remains strong in most charts but as we are still in an uptrend in the 30min SPY chart, money is better spent long than short if i had to decide...will tomorrow give us lots of action out of the trading range or will we have to wait for monday? we will see...

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