11/11 - Market Analysis

SPX
- broke the weak support price but price support is still in play
- bullish oscillator divergence


NDX


XLF
- will lead the market up or down
- at very very important support
- breakdown, and market will crumble...bounce and market will also


GS
- the bellwether of financials is now the biggest loser of the financials
- can't get financials or market to rally if GS remains weak
- bullish divergence vs SPX


CRB
- broke support as with USO
- bearish signal


VIX
- another day of failing to break resistance
- trend remains down until resistance breaks


A/D
- market weaker here than the numbers suggests...
- no divergence


Analysis: I keep thinking that if we have one more day that the picture will be clearer, but today didn't lend much help at all to the overall pictures...the 62% fib was broken in the indexes which is quite bearish but when looking at strictly price, supports are all still in play and resistance remains strong in VIX...we keep having mixed signals...today i wanted to short but too many things just didn't make sense...the weirdest signal was GS...its strength was very awkward to see....also the intraday strength to finish well off the lows in financials as well as most other sectors is also quite bullish...i would have to say that my next trade depends mainly on how XLF reacts to its support level...

ETFs:
Best - kol, uup, xlu, (pph, smh, rkh)
Worst - tan, eem, ung, gdx, fxi, xme
total = -2.94%,

- most important to note is that RKH was one of the strongest as well as smh...banks are important to financials and smh is very important to QQQQ...these will lead if we rally...