= ema 8.28.09

SPX - side


SPY - side


Analysis: sideways yet again...6 day range holds...

= ema 8.27.09

SPX - side


SPY - side


Analysis: market just drifting sideways...not much more to say but that....can't really be bullish or bearish here...definitely vacation time...

8/26 - spy = ema

SPX - consolidation


SPY - no longer above ema...stage 3 consolidation


Analysis: so whats going on with the market? nothing...just consolidation...slightly more chance to go up than down as we are still bullish on the daily chart but nobody should be surprised if the next move brings us back below the 30ema on the 30min chart...

8/25 - spy > ema

SPX - stuck


SPY - still bullish...but with resistance


ETFs


HEAT - commodities getting hit


Analysis: market stalled last couple days....but things still bullish...

8/24 - spy > ema

SPX - bullish


SPY - bullish


RKH - top?


RKH 30min - side


ETFs - energy is a laggard


HEAT - financials weak


Analysis: weak volume pullback to ema today...things still sound and ready to move higher but financials will be the toughest sector to push higher...watch as if resistance holds and we drift lower, i suspect SPX will follow lower too...

8/21 - spy > ema

SPX - bullish new high


SPY - bullish, no resistance


ETFs - commodity leads rally


Analysis: this market is bullish..i can look into many other charts to see reasons why we should fall very soon but i will save my time and yours by just looking at the obvious which is that we are in virgin territory in a bullish environment...safe to just stay long til we break below 30ema on 30min chart...and maybe even til 30ema on daily is broken...

8/20 - spy > 30ema

SPX - continuing its bounce from 30ema, resistance overhead


SPY - bullish


Analysis: most important is that we are still bullish...next importance lies in the fact that we have resistance right above...going higher will be very bullish but if it gets stopped, there is a good chance the rally ends soon after

8/19 - spy > 30ema

SPX - 30ema holds...bullish


SPY - bullish


Analysis: bullish looking here as long as support holds on the 30min timeframe...such a touch market as analysts seem to really have it right when saying how there are buyers at every dip as nobody wants the market to go lower...

8/18 - stage 4

bulls tried hard to get the bear off its back...but its still holding on tight..


SPX - support holds


SPY - bearish


USO - ???


VIX - hold support?


ETFs - weakest yesterday, strongest today


HEAT


Analysis: definitely feels like just a pullback before falling lower...but some stocks did actually move harder than i was looking for and make me wonder if this fall will really continue...if oil keeps going up and vix keeps falling, i would say that bulls might get one more try to go higher...tough but emotions aside, its a stage 4 with resistance holding today...

8/17 - stage 4a

SPX - support + breakdown from tight range


SPY - broke down...oversold


VIX - breakout and finding a bottom


ETFs - material, energy, financials laggards...bad for bulls


HEAT - pharma spared


Analysis: things finally broke out of the range today...its down and so i call it stage 4...tough thing is knowing if it can go much lower than here....it will be the first test of 30ema on the daily chart and after such an oversold fall intraday, i feel we have a very good chance to go a lil bit higher tomorrow before going back lower. stubborn bulls just don't want to let go fully just yet...

8/14 - stage 3b

SPX - same


SPY - symmetrical triangle


USO - stage 4


ETFs - energy and materials a drag


HEAT


Analysis: quick opinion..energy looks like its topped...so materials are in the same boat...the dollar might find a bottom here despite the ultra inflation scenario we should be in....and financials can't seem to get enough going to go move the indexes higher...i feel the next move is lower...just not quite yet....its a waiting game for sure...

8/13 - stage 3b

SPX - higher high?...kind of...not really


SPY - side


QQQQ - ascending triangle


USO - stage 3


ETFs - all important sectors bullish


HEAT


Analysis: charts give very little direction...just telling us that we are sidetrading but bulls still have the upperhand...i think the biggest tell today is the strength of the important sectors: energy, materials, and financials...with all those moving in the same direction, the bulls might just breakout and push us higher above this reistance once and for all...

8/12 - stage 3

SPX - stuck


SPY - stage 3


QQQQ - resistance intraday was from this


XLF - side


OIH - stage 1


USO - hit resistance here too


ETFs


HEAT - safety stocks weakest


Analysis: just looking from today's rally, i could have sworn we were back into the bullish mode...but when looking back at the past several days, i realize that we still haven't gone anywhere lately...its just a big consolidation stage 3...QQQQ looks to be the most important chart as that was where intraday resistance was...i would say SPX will follow whichever way Q's breakout into...