Bear Funeral…

By Red, on May 27th, 2010

No Post For Friday Gang. I’ll have the weekend post up by late Sunday Night, and I’ll do a video too. Go Enjoy The Weekend.

How many bears got wiped out today?

The market rallied up today on NO news at all. However, all the technicals did point for a possible breakout, but I sure didn’t think it would be so large. That means tomorrow will most likely be just a pause day, with little movement in either direction. I’d lean more toward a small pullback, as we hit the 200ma on the spx and dow. The market rarely pushes through on the first hit of a major trendline.

I believe the target area that the market is trying to go to, is the 1120 spx, and even possibly the 1140 spx. Will it get there? It’s hard to say for sure. There are lots of road blocks along the way, that could stop it dead in it’s tracks. The 1120 area is the gap fill area from May the 20th, and the 1140 area is just under the left shoulder from early January of this year.

So for tomorrow… it’s anyone’s guess. Since it’s a Friday, and we are going into a 3 day holiday weekend, I don’t expect much volume to be traded. That will of course favor the upside. But, that doesn’t mean the market will have enough energy to pierce through all the overhead resistance. That’s why I’m just expecting a flat or “pause” day, with not too much action on the up or downside.

This move up today was probably a “C” wave, or a “3″? I’m not a Elliottwave expert of course, but just about any trader would probably agree with me on this call. So tomorrow is the day to lock in your positions for next week… depending on whether you are bullish, bearish, or just plan on sitting in cash to be safe.

Red

Weekend Update...

bensjoyce

http://www.stockopedia.co.uk/content/larry-pesa…

The above is very interesting for the Doom and Gloomers. he has a long record of credentials and he says crazy things will start to happen about June 2nd “Beware he says”

Larry Persevento

http://www.reddragonleo.com Red Dragon Leo

I listen to Larry Persevento sometimes when he is on Tiger Financial Network. Haven't listened in awhile… I'll check this one out. Thanks.
ronwilker

hope he's right so the bears can experience some good times…
jimhobson

Well he sure missed yesterdy

anoopsan

Russell 2000 Index takes a new turn in the hourly chart

http://niftychartsandpatterns.blogspot.com/2010…

Thank you

http://www.reddragonleo.com Red Dragon Leo

What are you looking to happen tomorrow? Up, down, or flat?

anoopsan

Breakout stock of the day from NASDAQ – LMNR(limoneira co)

http://niftychartsandpatterns.blogspot.com/2010…

Thank you
http://crashthemachine.wordpress.com/ pezhead9000

SPY Thoughts:
- H&S is panning out – target ~114-115
- Fib retracements 111.17 (38.2) (also 13ema), 113.21 (50), 115.26 (61.8)
- 115.26 = 61.8 fib = left shoulder !!
bensjoyce

One thing about Bollinger Bands on the monthly Chart.

We did not hit the upper BB at 1286. If we close below the Middle BB at 986 then the odds are that we hit the LOWER BB, at 739 BEFORE we hit the upper BB again.

Rip Van Trader

Thanks, Ben! I cannot conceive of hitting 986 today, but I'll put the stops in anyway.

Thinking Tuesday will be down, and bottom will be 6/3 or 6/6.

Today we might be sweating.

anoopsan

Apple Inc Buy signal in daily chaRT

http://niftychartsandpatterns.blogspot.com/2010…

Thank you
Rip Van Trader

UK market is making an H&S this morning. We should join them at about 1103-5, drop to 1095, then back up to 1103-5 (or not) to end their day, from which we proceed to 114.40 (or not) to make our day.

Every day is like a Chinese menu.
Earl of

Carl’s morning call:

June S&P E-mini Futures: Today's range estimate is 1093-1110. I think the low at 1036.75 ended the drop from 1216. The market has broken above the 1089 high of its recent trading range and this means that a move to 1300 is underway.

1096.50 – 1106.75 range last night (10.25 points, 40% of normal)
1093-1110 estimate for today (17 points)
average actual range last 10 days has been 27.0 points

1103 currently, so estimate is -10 to +7 from here (neutral)
jimhobson

Well i still have a small posittion in TZA and typ. And di not move long as I had to leave the computer for a while.

May ick up some sso on a drop today to get ready for next week. It seems the bulls have some control and that Anna 1140 target is becoming probable.

But mostly cash
wendel

I think that the 1150 area will be difficult to clear and expect some type of tail off that area. In addition to the 50 EMA there is also a major gap at the $115 area.

Its possible we get rejected near there…come back down to the neckline…form some positive divergence and then move towards the 1180-90 area and hopefully continue on with a huge burst to get to new higher highs.
http://www.reddragonleo.com Red Dragon Leo

Probably not much movement today gang. That 3 day weekend will have many traders leaving early. It's going to be a boring Friday it seems.
anoopsan

Intraday hourly chart of APPLE INC shows the stock testing resistance line.

http://niftychartsandpatterns.blogspot.com/2010…

Thank you
monicadern

Been gone all morning. It's been a pleasant few days (not) but I am still short. My guess is they take this thing up into the close but I will stay short because one really never does know, does one?!

http://www.reddragonleo.com Red Dragon Leo

Not much going on today Monica…

I expect just a lot of sideways movement, but no real trend either way. We should go down next week. I'm staying tight too.

monicadern

Red, I wouldn't be surprised if they ramp it into the close again but I a staying put (literally). I'm not going to watch.

SC

It is ok if you know the worst case scenario. The good thing about buying options is that you can't lose more than what you put in.

You can't always close your eyes and walk straight out of a minefield. But if you are riding in a mine resistant armoured car, your chances are better. lol

monicadern

yes. of course the difficulty with options is that even if you are right, if there is too much sideways movement or the action takes too long to play out, you lose all your capital. There really is no easy solution.

jimhobson

Long term charts are still bearish 10 20 days below 50 and still down.

iam debating on whether to add to my short position s in this weakness??

Rip Van Trader

Market's acting weak either making a bull flag or starting to tank, hard to tell.

I sold a little ETF equity (less than 10%) to make room for puts purchases and to preclude any possibility of a margin call if we go higher today. I hope this wasn't a mistake!
http://www.reddragonleo.com Red Dragon Leo

Tuesday could be another up down Jim, but the week as a whole is very bearish. I seem to buy my positions at the wrong time too, but the trend for next week is still down.

But, I can't advise you on whether you should get a short position today, or take a chance on another up day on Tuesday. It's hard to say, as some really negative news could be realized over the weekend, and trap all the bulls… which means Tuesday would fall hard, giving you no chance to get short.

jimhobson

I do not take opinions as advice and i like listening to any opinions.

I have a hard time seeing a bounce up to 1140 as many have called for w/ these charts but i sue as heck did not see yesterdays other than it was an oversold by in IMO.

i have made my biggest profits in shorts buying into weakness and strength. Of course at some point that works against you.

monicadern

SC, if you are out there, can you tell me where the teal line resistance is now on the 60 min? I tried to figure it out yesterday but I could only chart the 100 weighted MA with 60 minutes on the 10 day chart and I'm not sure that is the right way to do it?!

SC

It's at 110.2 now, Monica.

monicadern

THANK YOU!!!!!!!!!!!!!!!!!!!!!

Earl of

Carl just went Long one unit at 1096.50

Rip Van Trader

I suggest putting a stop at 1089. It will be very bearish if we go below 1090 today.

Earl of

I haven't figured out Carl's plan for stops. I've seen 3 point stops, 5 point stops, and one ugly 19 point stop. But he never says what his safety plan is.
Rip Van Trader

BTW, are you Carl? The SN is pretty confusing.

Earl of

Didn't mean to mislead you. Carl is Carl Futia. He has a blog of his own, and posts his trades and his outlook.

You can find him — just Google Carl Futia

Rip Van Trader

Ah, OK. I was curious about your TZA/TNA posts and wondered if that was you.

Read your profile and see you trade TZA/TNA. I've gotten some TZA equity and options, very vibrant right now! Maybe not so much later.
Earl of

I'm all cash — the overnight swings these days are too much. Looking for an entry into TNA.
Rip Van Trader

Right now is good is you are a bull, but I am not a bull today. I think we are going to fail 1105, which is why I suggest the stop. It would be a good play.

We may rally to 1140, but I am certainly not a bull after that.
Earl of

I'm not a bull, I'm a fan of candlesticks, and TNA has the better candlestick formation.

anoopsan

Nasdaq 100 resistance line seems to be strong. Not able to break it till now

http://niftychartsandpatterns.blogspot.com/2010…

Thank you

http://www.reddragonleo.com Red Dragon Leo

Are you bullish or bearish into next week? I looked at your post from yesterday, and you seemed bullish.

Turbo Tim

wonder if he ever responds
wendel

I think this week we end pretty much flat from last week.

I think next week we end lower then this week (with up and down moves during the week).

Turbo Tim

is the funeral over

http://www.reddragonleo.com Red Dragon Leo

I think the bear was just exhausted, but regaining strength again today. LOL.

Turbo Tim

red, did u get email

http://www.reddragonleo.com Red Dragon Leo

I got it… thanks.
http://www.reddragonleo.com Red Dragon Leo

I was just trying to read it, while drinking some coffee.

Rip Van Trader

Buying more inventory at 1105 but going to take it easy, just wetting the beak.

Turbo Tim

nice wording- inventory

Rip Van Trader

Stole that from other posters here.

http://www.reddragonleo.com Red Dragon Leo

LOL

wendel

I'm buying ALL pullbacks.

Bought more FAS and SSO.
wendel

I think 114 will be a critical area…. however, because we had such a strong move down and everyone will be eyeing that area….I believe we will see higher highs.
http://www.reddragonleo.com Red Dragon Leo

There were several large (1 million plus) orders that went through on the spy yesterday in afterhour. They were around the 107 spy level. I wouldn't be surprised if they didn't dip down close to that area today on a stop sweeping mission.

Of course if they do, I expect a rebound by the end of the day. But, that might not happen until next week? It's hard to say.

monicadern

They love to keep us guessing!
Rip Van Trader

Saw one of those, anyway, and it was on a downtick.

Could have been scooping buys or sells, hard to say. That's a lot of shares.

http://www.reddragonleo.com Red Dragon Leo

It should would clear out all the new bulls from yesterday, if they dip down that far today. They cleaned house on the bears… why not clean house on the bulls?

monicadern

I just thought they would squeeze it into the close to get everyone long for next week. Hmmm. Maybe they take it down and bring it back up to even keeping everyone guessing.

SC

Lookit here:

http://stockcharts.com/h-sc/ui?s=$CPCE&p=D&yr=3…

AS2009

CPCE – means how many calls to how many puts so 1.6 calls for every put – is that right … so people overly bullish ?

AS2009

LOL put call – so everyone is bearish …

Rip Van Trader

How are you reading this, SC? Could cut either way.

SC

Yes by itself it can mean :

Door # 1 : 2008 replay.

Door #2 : Free ride on Sucka'saurus to the Titanic.

Taking the panic selling + double spike reversal, the evidence point to Door #2.

Take a look at this.

http://smartmoneytracker.blogspot.com/2010/05/d…

http://www.reddragonleo.com Red Dragon Leo

That guy is obviously a bull, and he doesn't trade options either. Not my trading style. I'll stick to short term moves and try to play both sides. Right now I'm still a bear until I see a lower low.

SC

His label and opinions mean nothing. It's the data on that chart. I didn't want to just grab his chart. So I linked to his article to give him the credit.
http://www.reddragonleo.com Red Dragon Leo

That's cool…

You could have posted both a link to his site, and his chart if you wanted too. I like to promote other people too. After all, it's the least I can do since I borrow their charts all the time.
SC

I could recreate the damn chart too. But I am lazy. LOL
http://www.reddragonleo.com Red Dragon Leo

I could too SC, but I'm like you… lazy. Why bother, when there are so many good chartists out there that don't seem to mind if you borrow their charts.

I always put them on the blogroll and promote them when I can. The Chart Pattern Trader and Cobra are my two favorites. Both very good at what they do.

Lot's of others too, and I have them on my blogroll as well. It's great to look at all the different charts, so you don't miss a trendline or something. It helps you see the big picture.

AS2009

We may have just tested the neckline of the inv H&S measuring to spy 114 … depending on if we turn from here …

AS2009

10 min uup looks like a bear flag with the fall from yest – what do others think ?
http://www.reddragonleo.com Red Dragon Leo

We are trying to hold on to the neckline. But, the 60 minute chart is losing steam and about to turn back down. Hard too know if this will hold of if people will sell into the close?

wendel

I try to buy when the 15min and the 30min crossover together.

http://www.reddragonleo.com Red Dragon Leo

Makes good sense wendel… I sell when the 60 and 15 cross.

AS2009

Fake print to 110.72 when mkt was at 109.8 …

http://www.reddragonleo.com Red Dragon Leo

I see that intraday fake print too. I'm sure they will take it there shortly.

wendel

For a larger picture, the daily has moved off the bottom.

http://www.reddragonleo.com Red Dragon Leo

Yes Wendel…

But we need the daily to move up and the market to move down, so a positive divergence will show up. Then the bottom will be in.

wendel

I am expecting that to happen in the next several weeks.

A back and forth to set it up.

anoopsan

Dow Jones 5 Minutes down ward channel that may break on the upside.

http://niftychartsandpatterns.blogspot.com/2010…

Thank you
AS2009

Looks like the uup bear flag is trying to break down …
Rip Van Trader

What do you guys think? Is the wolf pretending to be limping or is it a real breakdown?
Earl of

Carl just sold one unit at 1091.75
Rip Van Trader

Conveniently stopping on lower TL of rising wedge.

The crowd oohs and aahs.

Like a tightrope walker dropping his pole.

Rip Van Trader

A miraculous recovery: the tightrope walker is now reading a book and brewing a cup of tea while balanced on a chair.

Rip Van Trader

VIX is touching up her lipstick and checking her cleavage.

monicadern

Like your comments today LOL!

Rip Van Trader

LOL. I'm feeling sarcastic today.

The man behind the curtain is bellowing and banging pie pans but I'm on the right side this time. I THINK. You can never be sure until everything's over and you're sitting in cash again.

jimhobson

Not what i expected. Cap vision is showing a hard break down next week.

Yes i am perplexed
wendel

That was a pullback from the resistance (a pullback from the first attempt which can usually be expected) and a buy signal.

SC

Permabears will be fighting the market, once again.

http://www.reddragonleo.com Red Dragon Leo

The 60 minute chart is rolling over now. I doubt that too many traders will hold their long positions into the 3 day weekend. Gap window is at 108.88 on the spy, and seems like a likely target to be hit today.
http://www.reddragonleo.com Red Dragon Leo

Look at this 60 minute chart. Looks like it's going to roll hard into the close today.

http://stockcharts.com/def/servlet/Favorites.CS…
anoopsan

Dow Jones 5 Minutes Chart price back into the channel after some noise

http://niftychartsandpatterns.blogspot.com/2010…

Thank you

http://www.reddragonleo.com Red Dragon Leo

I believe it will stay in that channel for the rest of the day, and continue lower into the close.

Rip Van Trader

It will be out of the channel in a hurry if it doesn't close over 1100 by 2:30.

Not that it won't; it's all drama.

Going to set my cell phone for alerts and go cut the grass.
monicadern

can we say 107.2095 here we come?! Maybe of course

http://www.reddragonleo.com Red Dragon Leo

In afterhours last night, two large orders went through of over a million shares each. One was about 106.88, and the other was 107.17 spy. Gap fill is at 106.88…

monicadern

I saw that it said the low was 106.80 but I couldn't find that print (although I did see the 106.88 one). I saw multiple prints at 107.2095.

anoopsan

although dow went up till 10210 levels, it is coming down as you said let's see were it ends

http://crashthemachine.wordpress.com/ pezhead9000

Went long – may God protect those with monkey brains

http://www.reddragonleo.com Red Dragon Leo

Pez,

If 108.88 gap window breaks, the markets' next stop is gap fill at 106.88 spy. Put in a tight stop my friend, and good luck.

http://crashthemachine.wordpress.com/ pezhead9000

Bought chinese 2nite from the Red Dragon rest.

anoopsan

Dow jones one hour chart with ichimoku cloud

http://niftychartsandpatterns.blogspot.com/2010…

Thank you

Rip Van Trader

That's very interesting, San. Thanks for posting.

Rip Van Trader

The acrobat falls, but impossibly reaches out with a slender hand to grasp the wire.

C'mon bears, somebody smack that ***** down!
Turbo Tim

where is anoopsan's new chart. He has been given a job, and he is slacking. Hurry buddy, we are waiting.

anoopsan's chart, cant live without it

anoopsan

thanks for the interest turbo

monicadern

yes it was a good call san, even though I am a perma bear
Turbo Tim

anoopsan

What is the status after close. Esp. daily chart

Thanks

anoopsan

There was negative divergence in DOW HOUR CHART

http://niftychartsandpatterns.blogspot.com/2010…

Thank you

jimhobson

Interesting that it is still there and check out the volume for yesterday relative to the drops. on the daily Dow it poked above the 10 day but has dropped back and all averages are still down. in fact the 10 day has not even turned

anoopsan

yes jim as long as the price does not cross the recent high or 10250 levels it is negative

http://www.reddragonleo.com Red Dragon Leo

This is the perfect setup for the bears next week gang. Very bearish now. Next week should fool a lot of people.

monicadern

agreed but i would think it best for bears if they run it up until the close.

http://www.reddragonleo.com Red Dragon Leo

Yes Monica,

I would like to see a flat or positive close today. That would be ideal for the Bears I believe.

monicadern

funny, when the market is up my account looks much worse than in looks good when it was down. That shows the complacency in the VIX.

Rip Van Trader

I am glad that first and last 15 minutes of each day will be immune to the new trading regulations. Plunging is best left to professionals.

God bless heroes like Ben Bernanke and Tim Geithner, who put it all on the line for us every day.

monicadern

when will they be enforced and what are they?

Rip Van Trader

June 15th, I believe. Can't waste any time protecting the retail investor!

http://www.reddragonleo.com Red Dragon Leo

Well there you go then. The correction will be over by June 15th, and they would put in the safety measure then, while they rally the market back up for a month or two. LOL
monicadern

but correction will be over june 25th no? And, if they ban short sales, what happens to options? Aren't the underlying contracts based on shorting?
Rip Van Trader

Writing naked options is supposed to be illegal. It is similar to shorting in that you must borrow the stock if you don't own it.

Haven't studied in detail, figure I'll just take it as it comes.
monicadern

My options aren't naked, only I am! Just kidding!
Anyway, I know they'll find a way to screw me somehow when/if I am in the money
Rip Van Trader

LOL.

Got to trade while velocity is terminal. The triggers ought to work pretty well, though if you get a chance, manual is better.

Rip Van Trader

Big thing will be to suspend trading when it gets violent, except for beginning and end of day.

Rip Van Trader

Possibly banning short sales unless you own the stock. How cool that works out for the professionals, and protects us, of course.

http://www.reddragonleo.com Red Dragon Leo

LOL Rip… Let's give them an award. How about a long rope to tie around their necks, and a chair to stand on with a broken leg.

jimhobson

Are you looking at something specific??

http://www.reddragonleo.com Red Dragon Leo

No Jim….

Just a feeling I get by looking at all the charts.

jimhobson

Sometimes i get mesmerized by the short term charts and forget to look at the longer term charts that really have not changed much. All yesterdays bounce did was peak above the 10 day average w/. Barely peaked above down trend line and closed lower than it .

wendel

I used that ichimoku cloud on the SPY daily. Resistance at 112.50.
wendel

Looks like we're locked in the 1050-1100 area for the near term.
anoopsan

Dow hour chart with ichimoki cloud gave a good trade

http://niftychartsandpatterns.blogspot.com/2010…

Thank you
http://crashthemachine.wordpress.com/ pezhead9000

someone just flushed the …

monicadern

monkey brain teasers out the window!
http://www.reddragonleo.com Red Dragon Leo

LOL
Rip Van Trader

Our financial patriots at work.

Hope you got that stop, Pez.

You can check into after-hours trade if you are stuck.

http://crashthemachine.wordpress.com/ pezhead9000

If we gap down tuesday, there is no god

monicadern

then there is no g-d.

monicadern

Actually I take that bad g-d. I didn't mean it!

Rip Van Trader

I believe in God, but I also believe there are dirty human hands all over the stock market. It will go up or down, depending on how the house is stacked.

Historical pattern is it will plunge bad. Look at late 2007 for examples.

We could also rally dramatically, won't know until Tuesday. That's why I'm sweating out my position, because I don't want to miss the drop.

If there is one.

monicadern

You and I will be fine Rip. Have a good weekend and don't worry about it. Now, I remember that someone said last time they banned short selling, there was a big plunge in the market (since there was no one to run and cover shorts). Maybe that is there intention as the bottom of the market should be June 25th.
Rip Van Trader

There may be a rally Tuesday, or it could dump. If we rally Tuesday, we dump Wednesday.

I will have stops set pretty high, so that only a real rally can take them out. The 'teal line' does get violated by 25 points sometimes.
Rip Van Trader

Yes, the short selling ban worked out badly, except for the foxes.

have a nice weekend!

http://www.reddragonleo.com Red Dragon Leo

Closing price on the russell index… 661.61 LOL
anoopsan

Weekly bullish engulfing in NETAPP INC

http://niftychartsandpatterns.blogspot.com/2010…

Thank you
http://www.reddragonleo.com Red Dragon Leo

No Post For Friday Gang. I'll have the weekend post up by late Sunday Night, and I'll do a video too. Go Enjoy The Weekend.
Earl of

Carl at day’s end:

1093-1110 estimate for today (17 points)
1083.25–1106.75 actual range today (23.50 points )
Market was 4-9 points below Carl’s range.
For the past 10 days, average actual range is 26.9 points

Trades: In /ES at 1096.50, out at 1091.75 (loss of 4.75 points)
Grade: D (lost some money)

In the past 10 trading days, Carl has taken just two trades, a loss of 12 points total.

http://www.reddragonleo.com Red Dragon Leo

Tell Carl, if it's any consolidation… I know exactly how he feels. While he was doing well in this Bull market up, I was of course… losing my a@@. LOL

But seriously, I wish him well too. It's a tough market for both bulls and bears right now.

Earl of

Simply uncanny how this market moves all over the place, and buying low and selling high is so hard.

http://dreadwinaard.livejournal.com/profile dreadwin

I note that $vix closed a gap today. There are no gaps above, but one gap below that will get filled. Eventually.

You might try drawing a trendline chart on $vix, connecting the bottom of the white candle during the 3rd week of April to bottom of the white candle from the 4th week of may. I wonder if there is a trendline there that extends up and the last 3 candles on the $vix broke below it, and this is a backtest of that line.

Earl of

$VIX has a 7-10 point range some days, or possibly only 1.5 points.

The back test would need to move 4 points — child's play for this maniac index.

Charts in the mail.

Earl of

We are now in a Full Moon Trade, which tends to favor TNA.

TNA opened down 0.8%, and the opening gap was filled. TNA was up 0.3% at it’s high, and closed down 3.77%.

AmericanBulls had TNA with a Hold today after it’s buy yesterday. TNA was down today, and is a possible but unlikely sell for Tuesday. Since that buy at $47.52, TNA is up 1.09%.

Volume for TNA today was 16% above it’s 1 month average. Good for TNA.
Volume for TZA today was 25% below it’s 1 month average.

$RVX (VIX for $RUT) closed up 3.3% with TNA down 3.7%. No divergence.

TNA closed yesterday above the previous 5 daily closes, and the lower close today repeats that. Good for TNA.

The recent low for TNA was 3 days ago at $38.94. Today’s low was $46.87, 23% higher. Good for TNA.

Today, Ultimate Oscillator for TNA fell from 52.2 to 50.3 (-1.9) while TNA was down 3.7%. No divergence.

MACD fastline is < 0 rising, slowline < 0 falling. Seems to be forming a bottom. Good for TNA.

Bollinger Bands for $RVX (VIX for $RUT): Today, $RVX rose to close near the Bollinger mid line (20 day MA). The fast MACD line is pointing sharply down, the slow line is falling. Good for TNA.

Bollinger Bands for $RUT: Today, $RUT had a small red candle –not much change. MACD fast line is rising & slow line is falling. Neutral for TNA.

NYSE Down volume was 4.8 times the up volume. Bad for TNA.
TNA had a higher high & higher low & lower close (Neutral for TNA)

Money flow for the Total Stock Market:
$ 3,708 million flowing into the market 2 days ago.
$ 610 million flowing out of the market yesterday.
$ 792 million flowing into the market today.
Good for TNA.

I will post the AmericanBulls candlestick interpretation a bit later.

Overall, Good for TNA for Tuesday.
Earl of

The Daily view from Americanbulls

TNA was an Hold for today, but closed down 3.8%, and is a possible but unlikely Sell for Tuesday.

TZA was a Wait today, but closed up 3.9%, and is a possible but unlikely Buy for Tuesday.

Of the stocks & ETFs I follow, these are to hold on to:
GLD (gold), UGL (2x Gold)
SPXU (-3x $SPX)
QID (-2x QQQQ)
DXD (-2x DOW30)

The list to avoid:
USO(oil)
AMZN
QQQQ, QLD (2x QQQQ)

The following are possible (but unlikely) buys tomorrow:
UUP(US Dollar)
RWM (-1x $RUT), TWM (-2x $RUT), TZA (-3x $RUT)
SRS (-2x RE)
SCO (-2x Oil), DTO (-3x oil)
ERY (-3x energy)
FAZ (-3x Financials)
DZZ (-2x Gold)

The following are possible (but unlikely) sells tomorrow :
IWM (1x $RUT), UWM (2x $RUT), TNA (3x $RUT)
SLV(silver)
UCO(2x Oil)
ERX(3x energy)
DRI
GS
SPY

The following are quite likely buys tomorrow:
IYR(1x RE), URE(2x RE), DRN(3x RE)
AAPL
DIA
EWG(Germany)
EWQ(France)
EWU(England)
EWX(emerging mkts)

The following are quite likely sells tomorrow:
GOOG
DRV (-3x RE)
EPV (-2x Europe)

Summary: Transition to Bearish
New Sell today on AMZN, QQQQ, QLD (2x QQQQ)
New Buys today on SPXU (-3x $SPX), QID (-2x QQQQ), DXD (-2x DOW30)

Action for TNA or TZA for tomorrow: Possible but unlikely Buy on TZA, Possible but unlikely Sell on TNA
anoopsan

Buy signal in daily chart of MICRON TECHNOLOGY

http://niftychartsandpatterns.blogspot.com/2010…

Thank you
anoopsan

MICROSOFT CORP Oversold levels can trigger a rally

http://niftychartsandpatterns.blogspot.com/2010…

Thank you
anoopsan

YAHOO INC is showing positive divergence in daily chart

http://niftychartsandpatterns.blogspot.com/2010…

Thank you
anoopsan

DOW JONES weekly triangle pattern

http://niftychartsandpatterns.blogspot.com/2010…

Thank you
anoopsan

ORACLE CORP weekly and hourly view
http://niftychartsandpatterns.blogspot.com/2010…
anoopsan

DOW JONES Like technical analysis for last week
http://niftychartsandpatterns.blogspot.com/2010…

Thank you
http://niftychartsandpatterns.blogspot.com anoopsan

Dow jones bull flag gave a nice upmove. Now may be it's time for bulls to exit
http://niftychartsandpatterns.blogspot.com/2010…
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Bear Funeral…

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