Thursday, August 6, 2009

8/5 - stage 3

SPX - still resistance


SPY - stage 3


QQQQ - stage 3


XLF - bullish


OIH - stage 4


USO - stage 3


VIX - stage 4


ETFs - financials lead


HEAT - can financials drag up the indexes by itself?


ISEE - bearish divergence throughout the day


Analysis: now fully in stage 3 once again...can it once again break above resistance to make new highs or is now the time to finally call the end of the rally? so tough to say...all i know is that there are still many more bullish setups than bearish...and also that financials do have a chance to bring the indexes higher...but it can't do it alone...because as i've said before, the indexes will go towards the side of commodities and energy

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