Monday, June 29, 2009

6/29 - Market Analysis

Forecast: 50/50 bullish bearish


SPX - side

SPY - tight range but still bullish


RKH - side

OIH - h+s?


USO - bullish but resistance


DBC - bullish like COMPQ


VIX - SPX bullish


ETFs


HEAT - bullish mix


ISEE - bearish divergence


Analysis: i find myself stuck between bull and bear...charts are showing both bearish patterns as well as bullish continuation patterns...trend remains up so again its important to emphasize that current positions should be bullish despite having a good chance that the next big move will be a big reversal back down...basically, stay long but be ready for a reversal if it happens

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