BULL or BEAR ??
| Short term (1 week) | Notes |
| | -- Volatility is expected. Many data coming out on Thursday and Friday. -- All 3 indexes long term charts still look healthy. -- Be careful of the VXX indicator. -- Shipping Baltic starting to take a turn. Many shipping stocks have turn positive. -- UUP is still under the long term down trend, which is good for the market. -- GLD and SLV market is still waiting for more decision on where to head to next. -- UNG bottoming process still in progress. -- FXI still show weakness. -- All sector ETFs still look healthy. |
SPY (30 years monthly) chart:
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- Long term monthly SPY chart still look healthy.
- Last week retracement is considered as minor correction. Expect some more this coming week.
Next Week Economic Data (1 week):
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- Expect some volatility coming week.
- CPI, Job, Fed, PPI and FOMC all falling on Thursday and Friday.
VXX chart:
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- Look at the flatness of the 50MA line. Amazing !
SPY chart:
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- Weekly SPY chart still look healthy.
DJIA chart:
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- Long term monthly DJIA chart look healthy.
NASDAQ chart:
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- Long term monthly NASDAQ chart look healthy.
UUP chart:
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- UUP is still in the long term down trend.
Sector Analysis:
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- All sectors look healthy.
Copper JJC chart:
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- Copper is still under the control of long term 20MA line.
GLD and SLV charts:
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- GLD and SLV are still behaving well under the trend line.
- Secondary indicators seem to indicate possible down trend in the future.
Petrol and Natural Gas charts:
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- USO still staying on the long term 20MA line.
- UNG bottoming process still has not ended. Not time for entry at all yet.
FXI (iShares FTSE / Xinhua China 25 Index Fund) chart:
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- FXI is still weak. Not able to take out the 20MA resistance line.
Baltic Dry Index chart:
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- It is taking a interesting turn.
- Some shipping stocks have actually turned around.
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