Tuesday, August 11, 2009

8/10 - stage 3a

SPX - tight range lately


SPY - back below ema


QQQQ - side


XLF - below ema...stage 3a


OIH - side


USO - side but looking more bearish


UNG - side


UUP - resistance at huge capitulation-like volume


VIX - side


ETFs


HEAT - bear mix


Analysis: surprised it just kept falling today as 30ema did not hold up at all...we are now back to a consolidation mode and it looks like either tomorrow or wednesday, a clear direction will come...right now, i feel its just as likely to fall as to rise as OIH stopped falling and XLF stopped rising and USO keeps sidetrading...i swear it feels like one step up, one more 1/2 step up...then 1 step back down....not the most exciting trading environment

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