SPY - bullish, resistance now support?
RKH - side
UNG - huge volume...important triangle
VIX - still bearish
ETFs
HEAT - bullish mix
Analysis: ok...today was weird...finally a fall into the close...but it came way too late...SPY made its mark today breaking out if its triangle and now its right on the breakout level as a textbook retest of breakout...smart investors are getting excited just thinking about buying like crazy at the open tomorrow...looks very bullish to me....so why why why are we still rallying so late into this rally? i heard a view from a blog today that i really liked...he said that the strength is from the fund managers who were doubting the bear market rally and are now trying to get any piece of the rally before they have to face their clients...they are struggling to keep this market higher and doing a decent job at it...scared off the bears for sure...so what we will probably have is one last leg up from these latecomers, then a real pullback...but for now, bulls won...unless, of course, we get surprised by the bears tomorrow...
No comments:
Post a Comment