BULL or BEAR ??
| Short term (1 week) | Notes |
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| -- I am breathless. The 30 years SPY chart actually shows that both the 18MA line and resistance trend line have been taken out. A very bullish indicator. -- Weekly UUP chart also shows that its 18MA line has been broken downward. Another bullish indicator for stock market. |
SPY (30 years monthly) chart:
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- Both resistance line and 18MA line have been taken out. A very bullish indicator.
Next Week Economic Data (1 week):
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- Quite a number of events on tap. Expecting a volatile market.
- With VXX and all 3 indexes coming to tipping point, it is going to be a wild ride.
VXX chart:
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- Support from weekly 18MA line and trend line at 40.00
SPY chart:
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- Daily SPY is coming towards its daily 123MA line, the last defense line for the Bear.
DJIA chart:
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- Similar to SPY.
NASDAQ chart:
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- NASDAQ is already at its daily 123MA line and trying to break through.
UUP chart:
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- Weekly UUP chart shows that price has break downward through its 18MA line.
- This could be very bullish for the stock market.
Sector Analysis:
-NA-
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- Running out of time.
Copper JJC chart:
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- Daily JJC did a double bottom and bounced back up to its daily 18MA line. A very bullish indicator.
GLD and SLV charts:
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- Daily GLD chart is very interesting. It found support at trend line ~ $156 to $157, rebounded there and sit on top of daily 123MA line.
- It is now sandwiched between daily 18MA and 123MA line.
- SLV found support at its weekly 76MA line. Resistance at $32.00.
Petrol and Natural Gas charts:
-NA-
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- Running out of time.
FXI (iShares FTSE / Xinhua China 25 Index Fund) chart:
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- Daily FXI found support at its 18MA line and is trying to break through its down trend line.
Baltic Dry Index chart:
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- Nice up trend. Seems like this is a good indicator on the stock market.
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