BULL or BEAR ??
| Short term (1 week) | Long term (6 months) |
| -- We could be at a turning point. VXX is posing some threat. -- MACD in daily charts of SPY and DJIA has started to turn negative. -- The QE2 and interest rate announcement will be the key. -- Get ready to turn to BEAR when it happens. | -- Will not call off this BEAR before DJIA broke 11,200 point for sure |
Next Week Economic Data:
VXX chart:
Input:
- Be careful, VXX could be bottom up. It should all depend on the FOMC day on Wednesday.
SPY chart:
Input:
- Daily 6 month chart shows that SPY is still intact, but MACD is starting to show bearish sentiment.
- Some kind of correction might start. Long term chart shows that price are retreating from the 200MA line.
DJIA chart:
Input:
- Same as SPY.
- 11K point is a very important support point at 200MA line.
- Daily 6 month chart MACD start to turn bearish
NASDAQ chart:
Input:
- NASDAQ is still very strong and it still has room to grow.
Sector Analysis:
Input:
- XLK is still very bullish. That explain why NASDAQ still not stopping.
GLD, SLV and UUP charts:
Input:
- UNG is quite interesting, looks like already bottom.
- UUP is fluctuating quite heavily at bottom. Could be in progress of deciding bottom.
- USO continue to be block by the trendline.
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