20th Nov 2010 – My Analysis

BULL or BEAR ??

 

Short term (1 week)	Long term (6 months)
-- This short term bull is kind of weak now. -- A burst in the UUP can kill this Bull right in the head.	-- Major support line is not broken yet even though they are penetrated and came back.

 

Next Week Economic Data:

 

 

Input:

 

1. Heavy data on Tuesday and Wednesday
2. Holiday on Thursday and half day session on Friday. Could bring some volatility.

 

VXX chart:

 

 

 

Input:

 

1. The VXX daily chart shows that it has come to the bottom again. This can be a double-edge sword.
2. WATCH OUT!!!

 

SPY chart:

 

 

 

 

Input:

 

1. Intraday SPY chart broke through the trend line and also its 20MA and 50MA line, which gives confident on the up trend.
2. Daily chart SPY shows that it has finally come on top of 20MA line. However it is still beneath the thick blue trend line.
3. Weekly chart shows that it is still able to stay on top of 200MA line even though it poke through it at the beginning of the week.
4. I consider this indication as "Bull is still intact".

 

DJIA chart:

 

 

 

Input:

 

1. Intraday DJIA chart broke through the trend line and also its 20MA and 50MA line, which gives confident on the up trend like SPY.
2. Daily DJIA chart shows that it is still beneath 20MA line. So be CAREFULL on this.
3. Weekly chart shows that it had touched the 200MA line and rebound back. Hope that this is a healthy sign for a much stronger BULL coming in the pipeline.

 

NASDAQ chart:

 

 

 

 

Input:

 

1. Intraday NASDAQ chart shows that is hs penetrated the 20MA and 50MA line.
2. Daily NASDAQ chart shows that it is still beneath the 20MA line. WATCH OUT!!!
3. Weekly NASDAQ chart shows that it is still beneath the April high.

 

UUP chart:

 

 

 

Input:

 

1. Hope that the 20MA and 50MA lines will keep the intraday chart up UUP lower.
2. On daily chart it is sitting on the trend line. Watch out for the support coming in from the 20MA line. That might lift the USD$$$.
3. I don't understand why after QE2, UUP reverse up instead. Is it just because of China raise interest rate?
4. Weekly chart shows that UUP is still in bullish mode. Pay close attention to this guy. This is not good for stock.

 

Sector Analysis:

 

 

Input:

 

1. Most of them rebound at the 50MA line.

 

GLD, SLV and UUP charts:

 

 

Input:

 

1. GLD rebound at the 50MA line just like most sectors.
2. USO was hit badly just in one week time. This might be some kind of indicator what is going to come next. Anyway, it is always a reverse of UUP.
3. UNG is getting interesting again.
4. UUP is the one to really watch for.