SPY - triangle holds
RKH - triangle
USO - 1st test of resistance holds
UNG - trying to bounce from support
VIX - most bullish signal out there
ETFs - correct sectors leading
HEAT - totally mixed
Analysis: VIX makes me believe that we are going to head higher...its often a leading indicator so i can't help but give it much emphasis in my analysis. the next piece of the puzzle would be to have a move up on better volume. with such like volume, we might just stay sideways for a while longer. unless vix makes a big reversal tomorrow, i expect UNG to rise and SPX to follow right behind...COMPQ prob be the strongest index as it has the least resistance...but if we stay within the triangle on the 30min, i suspect that the earliest we breakout is friday or monday...bears had so many opportunities to pull the indexes down but it hasn't been doing anything...another reason why its safe to be bullish...
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