23rd Oct 2010 – My Analysis

BULL or BEAR ??

 

Short term (1 week)	Long term (6 months)
-- No reason at all for me to call off this BULL  with such an awful VXX chart	-- Will not call off this BEAR before DJIA broke 11,200 point for sure

 

Next Week Economic Data:

 

 

VXX chart:

 

 

 

Input:

1. BULLs are marching in strong. Don’t go into reverse ETF.

 

SPY chart:

 

 

 

Input:

1. Intraday chart shows that it should penetrate the top line on Monday next week.
2. Long term chart shows that it still have energy to come to 120 point where the resistance of 200MA line is.

 

DJIA chart:

 

 

 

Input:

1. Intraday DJIA chart also shows the willingness to penetrate the top next week.
2. Long term charts shows that it might retest the 11,200 point next week.

 

NASDAQ chart:

 

 

Input:

1. Same thing. Penetration thru the top is very likely.
2. All the Big Boys like AMZN, GOOG and EBAY reported good profits, bullish sentiment.

 

Sector Analysis:

 

 

Input:

1. I could have made "a lot" of $$ just trading these ETF, if I have paid attention to them.

 

GLD, SLV and UUP charts:

Input:

1. Looks like commodities and USD have reversed course.