Wednesday, July 22, 2009

7/21 - Market Says

Slick Mr Bull just peacefully stomping over the bears


SPX weekly - neckline


SPX - bullish


SPY - bullish


RKH - bearish


SMH - resistance?


USO - not yet stopping


UUP - holds support


COPPER - virgin territory


VIX - descending triangle


ETFs - financials lag


HEAT - mix



ISEE - slight bearish divergence


Analysis: always seems to be reason why u should doubt the rally and everyday for 10 straight days now, the market finds a way to go higher...today surely felt like the start of a pullback, but that all ended as the indexes closed right back at the highs....small ranges but still strong moves by the bulls...i officially got stopped out today and feeling more insecure about not being long than relieved about being in cash...guess that means i still favor the bulls

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