11/13/09

SPX no new high, 3% week, XLU E and K lead today

Maybe we can break through this trend line Monday

Rotation, from SA...I noted this last week


Small-company valuations have risen to a 13-year high, giving some investors a reason to look for value in bigger firms. The S&P SmallCap 600 trades at a P/E of 34 - 56% more than in the S&P 500.

Trying for a trend break on the 60 min........

SPX trying to make new highs...Airlines up nicely, but can't figure out if it a new up leg or just a bounce .. Oil down a little again today

Econ reports not moving the pre market, Japan Index set up for EWJ

11/9/09

Red flags abound as a meltup move proceeds.

1. Could be a huge bull trap. 2. Trans and utilities have not confirmed the New DJIA high, along with the S&P. SPX rsi maintains the divergence as does the MACD trend divergence. Gold has under performed SPX the last couple days.

In the bulls favor is the test of the 50 EMA, weekly trend line break

DJIA new high today, SPX 1092, every 60 min candel was green today, back to 1100 res but the weekly downtrend from last year has finally been broken


SPX chewing some shorts up... H&S negated? XLF XLB leading today up over 3%

SPX MACD goes back above zero if she can hold up here 1090 HoD

6% rally off SPX lows last week...trading above 1080 here for now

Another case of buying the futures and selling the ETF (USO)...just like UNG and Natgas Futures

Not so much that it's been a bad trade, it's been good, but it has kept a lid on USO as $WTIC broke out 2 weeks ago and USO has not. SCO may play well if the commodities start unwinding for whatever reason in the future.

SPX up 1% at 1080 res and what could be a top of a right shoulder on the 60 min chart. Weekly trend line bout to be broken now