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Tuesday, June 14, 2011

This Week in Charts

Finally, a market rebound. This week is options expiration week, so once again some games will be played. The market was extremely oversold, and a bounce was expected.

The question is, does the downturn resume immediately? Or is there some legs left in this rally?

I am playing it cautious, i got burned so many times trying to pick tops before, I want gifts.
First chart is S&P 500, and today we hit 10 EMA, but not yet 20 or 50. I think the 20 is in order (and so does happy john) before the decline resumes in earnest.

But who knows, the market could be so weak the market could waterfall decline.

Next chart is Gold, still no gift there, hoping gold hits bull trend to buy in.

Then we have DXD, double inverse short fund,....notice a change? the value is going up.

Throw in DECK and CMG for a couple of shorts to watch or join. To the charts!

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