BULL or BEAR ??
| Short term (1 week) | Notes |
| | -- Watch out for SPY resistance level at around 131.00. -- VXX coming to the next support line at 33. -- A correction is expected. |
SPY (30 years monthly) chart:
Input:
- Unbelievable! It has completely overtaken the 20MA line. Maybe history is not going to repeat itself this time.
Next Week Economic Data (1 week):
Input:
- FOMC on Wednesday. Correction is expected at least on Tuesday.
- Jobless and employment on Thursday and Friday. Expect volatility.
VXX chart:
Input:
- Support at current level is important for the Bear.
SPY chart:
Input:
- Daily SPY chart shows that it is reaching a correction point.
DJIA chart:
Input:
- Similar to SPY.
NASDAQ chart:
Input:
- Weekly chart of NASDAQ shows that correction is due.
UUP chart:
Input:
- UUP has reached a strong support line for the Bear to roar again.
Sector Analysis:
Input:
- Many sectors hitting on resistance trend line.
Copper JJC chart:
Input:
- Copper approaching resistance line at $50.00
GLD and SLV charts:
Input:
- GLD and SLV are expected to have minor correction.
Petrol and Natural Gas charts:
Input:
- USO approaching strong resistance at around $37.00.
- UNG looks like trying to form a bottom "again".
FXI (iShares FTSE / Xinhua China 25 Index Fund) chart:
Input:
- Similarly, FXI is bullish.
Baltic Dry Index chart:
Input:
- No sign of retreat from shipment index. Expect it to continue its uptrend.
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