SPY - ascent seems to really slow...maybe getting ready to turn over...sc rally? dunno
QQQQ - very steady rally underway
RKH - below support and 30ema...if market goes lower, banks are at fault as always
UUP - dollar starting to reverse too..when things reverse, usually the current trend in SPX does too...this would be bearish for SPX
- santa rally coming or no?
- i got a 60% chance on no rally...
- as a current bull, i don't like the reversal in RKH, weakness in XLF and SMH, and the stage 3 consolidation of UUP at strong resistance...all these tell me that the current landscape is already starting to have cracks and might reverse...that would mean that we will head lower, not continue higher
- only bright spots is that we are still above resistance, light volume usually means buying, and QQQQ and IWM remain steadily climbing
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