Tuesday, May 12, 2009

5/12 - Market Analysis

SPX - setting up for just a pullback


SPY - lower highs? and lower lows


RKH - pullback setup


VIX - SPX bullish still


A/D - not a bullish day


ETFs - safety sectors lead, financials lag


HEAT


ISEE - bearish divergence


Analysis: charts telling me that we prob won't fall hard...not gonna be anything more than just a pullback from here....most likely for QQQQ to lead these next few days...then SPX lags and by the end of the week when it hits the channel support, it too will rally and follow QQQQ....i would be really surprised if we break below the channel support...but seeing how we had a V shaped reversal bottom, i guess its possible to have a V shaped top...

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