Wednesday, July 20, 2011

7/20 - bullish (sell stop)

  • financials leaders
  • despite good reason for a good day (yesterday's rally, aapl's earnings), we stay slightly negative most of the day
  • news emphasized how gang of 6 plan is not going as smoothly through congress as previously planned
bullish
- XLF led and now above EMA on 60min
- VIX fell again and now 2nd day in a row below 60min ema
- despite sideways action today, 60min charts of indexes still bullish

bearish
- market unable to grab a nice gain even with AAPL's good earnings and strong futures
- indexes closed at the lows of the day
- market basically just traded sideways

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