SPY - resistance
SPX week - broke support
DJIA - brokedown
DJIA week - confirmed breakdown
COMPQ - slight breakdown
XLF - bearish
USO - bearish
UUP - ranged
VIX - resistance
A/D - pretty bearish
ETFs - commodities all over the place
Analysis: about the market...despite looking like a perfect test of the SPX low's close and failure to break down which is all bullish info, i am not convinced we will go higher before going lower. some blogs i keep in touch with have been quite bullish actually and feel its time to go higher as we are deeply oversold...again, i think they might be early....i need confirmation in terms of a breakout in the intraday charts first...but for now, i think its safe to hold shorts and even look into new short positions. stops are close to breaking so i am pretty sure i don't have to tell u to keep stops tight...for the downside, financials still seem best and education and pharma stocks seem to be at breakdown levels...for the longside, QQQQ looks good as well as agriculture stocks....
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