Thursday, July 16, 2009

7/16 - Market Says

Bulls continue their unwavering climb against all odds...


SPX - breaks more resistance...1 more left


SPX 30 - bullish


SPY - bad tick?


COMPQ - bullish new high


RKH - side bearish


SMH - very bullish, leading indicator


OIH - no longer bearish


XME - neutral


USO - still pulling back


UNG - showing strength


VIX - support holds...confusing yet again


VXN - bullish COMPQ...makes more sense than VIX


ETFs - financials lag...


HEAT - bull neutral


ISEE - no bearish divergence yet again


Analysis: alright, i do have to say that the bulls have the upper hand and seems to be able to hold onto it...one more push up and everything will be confirmed...a lingering here would make me kind of worried about monday as the market might throw us another curveball if the bulls and bears don't make up your decision by then and remain within the range...VIX and RKH look bearish to me...while anything tech is very bullish...definitely still the time to hold longs and buy dips...i think we will go higher and follow SMH's lead...

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