Thursday, August 13, 2009

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...

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