Wednesday, July 29, 2009

7/28 - stage 3a

consolidation mode


SPX - bullish but very slow


SPY - fell below 30ema...stage 3


RKH - still bullish


UNG - bearish


VIX - bearish SPX


ETFs


HEAT - bear mix


Analysis: first signs of SPY cracking happened today...its in stage 3 now...can still go higher but more than likely, stage 3 ends with a stage 4 fall instead...so watchout for that...no great setups out there at all right now as bullish charts are way too extended and bearish stocks just haven't been confirmed...hate to say it but its best not to buy anything unless we get some huge moves which might make for a great EOD buy tomorrow...doubt i though...

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