Wednesday, July 1, 2009

7/1 - Market Analysis

Forecast: Not quite time for the bear yet


SPX - no change


SPY - side most likely


QQQQ - 2x top?


RKH - breaking down slightly


USO - sideways


UNG - bearish


VIX - possible 2x bottom


ETFs - financials not participating in rally


HEAT - XLF weak


Analysis: definitely seems like bulls are trying their best to keep the last of the rally alive...but i think all bears know that it is hopeless and the market will eventually fall below support and make a beautiful topping pattern...just that as it is still quite sideways trading, u have to be careful to not get all bearish too soon..right now, its best just to be prepared and waiting for the bear to show its face

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