Banks and dollar should be watch closely...it looks,that any rally /decline on SPX will be supported by rising /falling dollar.
Citygroup is the leader here:
stockcharts.com[w,a]daclyiay[dc][pc50!c13][vc60][iUa13,21,13!Le20,33,28]&pref=G
Support at 30 wants to hold ):
Bonds are overbought and this long rising wedge is a danger play short term.
Bonds daily
stockcharts.com[w,a]daclynay[dc][pc50!c13][iUa13,21,13!Le20,33,28]&pref=G
Notice PPO and MACD negative divergence on this recent run.
Soon,it might be the shift of money from bonds market to the stock market.
Gold stocks are getting killed...however long term upside is still intact.
Some of Canadian miners:
clearstation.etrade.com
Bottom fishing on GM....long term support at 30 may hold:
stockcharts.com[w,a]daclyiay[dd][pc50!c13][vc60][iUa13,21,13!Ll21]&pref=G
Resistance at 35 is evident.
QQQ testing support at 24
stockcharts.com[w,a]daclyyay[dd][pc30!c90][vc60][iUe20,33,28!Ld60]&pref=G
More solid support at 22.5-23.
Looks like Nasdaq trading range 1220-1420 is very likely for a short-mid term.
Short term support for INDU 7400-7450,SPX 777-785. |
