Wednesday, July 8, 2009

7/7 - Market Analysis

Bulls, take your money and hide...bears are back in full force!


SPX - bearish


SPY - bearish


DJIA - bearish


COMPQ - bearish


RKH - side


USO - bearish


UNG - bearish


VIX - SPX bearish


ETFs - xlf strong...why?


HEAT - financials are the strongest


ISEE - bullish divergence


Analysis: I went into today thinking that if the supports don't hold and the major indexes complete their breakdown of neckline that the market is 100% bearish....total green light scenario...but there are 2 things bothering me...its ISEE and financials...it shows underlying strength left in the bulls...i suspect tomorrow to be a huge move and the deciding factors of days to come....if we fall lower, no more bullish think bout it..but if we somehow rally big on good volume, it might make me concider today just a headfake...odds favor more declines but be quick on your feet...

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