5/28 - stage 3a

2m - side


SPX - unsure where we go next


SPY - got some resistance and support for next week


RKH - back in a range


VIX - strong support below


NYMO - bullish because weak down move despite good size selloff today


ETFs - financials weakest

5/28 - lunch scan

SPY - support held


SPX - got resistance ahead

• we are in middle ground right now
• many stocks look ready go to lower..while others look like they got a long ways to pullback before its off oversold levels
• move in market today makes trading over the weekend very risky
• with a shortened week next week, i wonder how things will move
• VIX and dollar suggesting that we are more likely to fall next week than move higher...
• for today, we got a huge drop from the spain downgrade but was able to recover in swift fashion in just the last hour to cut the losses in half
• traders should be on vacation now, but there are still big moves in the market
• think that if volume falls, get a great chance to push higher and erase all losses today in the last 30min
  

5/27 - stage 2a

2m - bullish


SPX - bullish...thinking we got a few more days of ups left


SPY - no room to pullback tomorrow so either we continue higher or go back into the sideways range tomorrow


RKH - just above resistance at the close


FXE - back above 30ema but got some resistance above


VIX - found support all day long


NYMO - no longer oversold..bears gonna jump on it?


ETFs - most sold was the biggest gainers


HEAT - very broad based rally

5/27 - lunch (bullish)

spy - bullish



SPX - think it can make it all the way back to 30ema

• market is bullish
• see a couple of good longs...not really any shorts
• going long seems safe here as all indicators, including VIX and FXE are telling me that its bullish
• finally broke out of SPY 30min stage 1 and into stage 2...MDY and QQQQ confirm it...DIA lagging...thinking we get atleast 1 more up day tomorrow...can go on til next friday
  

5/27 - breakfast

• pullbacks occuring in many stocks....some have pulled back more than a prior resistance and seem to be able to go much higher
• when looking at SPY, you can see how much higher this relief rally can go...
• SPY just starting to break 30ema so i think its the start of a bull rally, not the end...worth buying long later if SPY remains above 30ema
• financials stocks pullback nearing their breakdown necklines...but since some other stocks in tech, etc have broken it, we might actually see these stocks retest their old highs before all is done
  

5/26 - stage 1c

2m - side

SPX - bearish candle...but support holds..for now


SPX candle - near bearish


SPY - resistance strong...good chance we test lows


UUP - strong resistance



FXE - barely below...precursor to bearishness?



VIX - bullish candle for vix


VIX 30 - still below resistance and 30ema


NYMO - not as oversold but still oversold


ETFs - tech was strongest early today then broke down to be the weakest...


WORLD - European and japanese companies weakest..guessing its cause of their currencies...america actually looks stable

5/26 - midday scan

• market is fully undecided...
• bulls can't seem to get it easy...
• market still feels week...market wants to say that we put a bottom in for now and will reverse higher but many investors are scared...they know that this is most likely just a short term bounce if anything and aren't ready to commit til they see more evidence
• i don't see many great setups...just 2 that i like..one lone, one short
• airlines one of the standouts today...
• indexes can break above 30min resistance...stuck in a range...
• FXE stuck at support, UUP stuck at resistance
• with light vol this week, we might just get a sideways move today and tomorrow til atleast tuesday...
• definitely seems more like a time to stock pick than anything else...some stocks making good moves today...
• pharma getting hit hard...
• semis are the strongest charts...

bottom line:

• market unstable...ok to buy short or long..but needs to be ideal setups...can't find them, then best not to buy anything...tomorrow will reveal more about where the market is going
• but still feels more likely we end higher by end of the week than lower from here
  

5/25 - stage 1a

2m - side


SPX - huge reversal...not cap volume


SPY - above 30ema


SPY - huge uptrend all day long


FXE - 2x bottom possible


VIX - lower low...should go lower tomorrow


NYMO - still oversold...no move today


SPX candle - bullish confirmed pattern

5/25 - midday scan

• once again we are well off the lows after a huge drop intraday
• but today feels different...feels very much like we will even get back to positive and even make a gain
• the candle looks right this time...its a reversal candle unlike the last few times we've done this
• in the past weeks, the reversals were from insignificant levels and didn't give a huge tail..today we finally get a real hammer
• financials leading...no idea where the strength is from but if they lead, it is hinting that this is real
• we can always still go back lower and make the reversal candle less important but doesn't seem likely
• think we can get a strong rally today onward for atleast the rest of the week as it is the week before memorial day...next week might even have some more low volume rally...low volume almost always favors the bulls
• go good buy setups in either direction
• FXE is at old lows of last week...very likely short term pop in euro...
  

5/24 - stage 1b

2m - side

SPX - good support below



SPY - range


INDU - closed right on support


JJC - bullish


FXE - range...below 30ema


VIX - strong resistance and bullish sign


ETFs - financials and energy weakest