July 7, 2009

07/07/2009 Intraday update

4:05pm

it’s very meaningful today to take out previous lows.  a big day for bears!  Also, today is not even a MDD, so expect more volatile days ahead. 

 

A quick look at sectors.  only defensive sectors are holing about 50ma right now, a self-speaking chart.

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3:43pm

the ceremony just finished, it’s so moving…

 

2:57pm

Someone still remember this chart?  i was too aggressive when i paste this a month ago, but if we are lucky enough, this still may become true…

 

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12:36pm

Usually, i only put this kind of drawing to our trading blog, today i’d like to share it here.  below is the hourly chart of SDS, a double reversal ETF.  this cup & handle pattern is the mostly popular one among IBD and it works really well in a bull market.   Many other reverse EFTs, like TWM, FXP, FAZ are having a very similar pattern.  Those ETFs will break out every soon…  If you have not enter them at a better a position, it’s not too late yet…

 

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12:31pm

market is testing yesterday’s low.  I believe it will penetrate and get down to 870 region as a first stop… bears, be brave! :)

 

11:12am

I will be following MJ’s memorial ceremony today.  market is weak and trying to fight back to 5min 50ema, let’s see how it goes…

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