BULL or BEAR ??
| Short term (1 week) | Notes |
| | -- All three indexes are still showing Bull's signature. -- All sectors reached resistance line and do minor correction. -- UUP uptrend is facing challenges. |
SPY (30 years monthly) chart:
Input:
- SPY 30 year chart still stay healthy.
- Value is still above the 20MA line and the support trend line.
- We still have to accept that bulls are still in control.
Next Week Economic Data (1 week):
Input:
- Not much data report for the week. The news will be basically all those Europe debt news.
VXX chart:
Input:
- Both daily and weekly VXX charts show that it still has support from 18MA line.
SPY chart:
Input:
- Daily SPY still has support from 123MA and 18MA lines.
- Bull still has the control.
DJIA chart:
Input:
- Similar to SPY, daily DJIA has strong support from 18MA and 123MA lines.
- Golden cross is forming for 18MA and 123MA line.
NASDAQ chart:
Input:
- Similar to SPY and DJIA, strong support from both 18MA and 123MA lines.
- Golden cross for 18MA and 123MA lines completed.
- Bull has the upper hand.
UUP chart:
Input:
- UUP uptrend is weak but not completely dead yet.
Sector Analysis:
Input:
- All sectors touched their resistance lines and now in minor correction mode.
Copper JJC chart:
Input:
- JJC chart facing resistance at 47MA line.
GLD and SLV charts:
Input:
- GLD is tremendously strong. Looks like some kind of easing policy is going to implement for the Europe problem.
- SLV is following GLD's move, but facing resistance at 47MA line.
Petrol and Natural Gas charts:
Input:
- USO facing resistance at trendline.UNG is again doing its all time low multiple bottom again. Anyone dare to go near?
FXI (iShares FTSE / Xinhua China 25 Index Fund) chart:
Input:
- FXI is facing resistance at 123MA but still has support from 76MA line.
Baltic Dry Index chart:
Input:
- Shipping turn South suddenly. A very sudden and interesting turn. What does it mean to the market?
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