Friday, February 5, 2010

2/5 - stage 4 (but feels like stage 1)

SPX - where did support come from? reversal candle


SPY - below 30ema...atleast a retest of lows?


SPX weekly - support from 30ema seen here


XLF - support from rectangle here...cap volume too...going higher


USO - support from rectangle held here too


UUP - going lower after a 3 wave correction?


GLD - 3 wave correction and going to for a wave 5 or 3?


VIX - reversal from strong resistance


  • big reversal
  • big doubt from me
  • felt like market needed to do something to keep people guessing...things were getting too easy
  • thinking that its a real reversal after studying more charts...most notably dollar and gld..think it might be a commodities rally in this next leg up...

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