Friday, June 26, 2009

6/25 - Market Analysis

Forecast - bulls still confident...but bears are the real ones in control



SPX - weak volume on rally, H+S stage 3 top?


SPY - bullish


DJIA - stage 3


COMPQ - stage 2


RKH - stage 3 sidetrend


USO - stage 2 pullback


UNG - stage 1


UUP - stage 4 pullback


VIX - continuation of stage 4?


ETFs - tech lags...weird


HEAT - all green


Analysis: definitely having mixed signals here...in the very very short term, its better to go long...but by as soon as tomorrow and most likely next week, we got a good chance to break support yet again...going long QQQQ looks good here...shorting definitely best with commodities that are deeply in stage 4. bears should be worried about VIX and QQQQ, bulls should be worried about RKH and light volume

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