| Lockhart |
| StabsFeldwebel |
 |
 |
| 292 Posts |
| registered: 22.12.2012 |
|
The sharp reversal in the crude oil and stock market has weakened the shortterm outlook for both markets. Though the stock market in particular has done everything to surprise us on the upside, I am seeing similar shortterm chart formations in both commodities and stocks that suggest the current decline will continue. The key support levels to watch are the lows we made last week. If we can hold these levels tomorrow, we can keep the shortterm uptrend intact. If not, than we are ly to see a drop back to?and possibly below?the April lows. The good news is that the SampP A/D line did make new highs this week,Diesel Belts, so after a correction the stock markets overall uptrend should resume. On the other hand, the failure of the Russell A/D line to move above the early April highs favors further weakness. Lets look at the charts. Click to Enlarge Chart Analysis: The daily chart of the Spyder Trust SPY shows a threeday rally back to resistance at $ before todays reversal. It is often the case that technically weak rallies only last days. The SPY has key shortterm support now at $., which if broken makes a decline to the April lows at $. quite ly. This also corresponds to the daily uptrend line c The day MA is much lower, at $. The SampP A/D line made new highs Monday line d,www.sandalsdiscountsale.com, which is positive for the intermediate term A break of the A/D lines shortterm uptrend will confirm a further decline. Longerterm support for the A/D line can be found at the April lows and then the uptrend line f. The weak relative action of the is Russell IWM has concerned me for several weeks, and for the first time this year its A/D line has failed to confirm the new price highs. IWM made a new high at $. on May before reversing to a low of $. last week. This is now the key level to watch, and if it is broken the next support is at $. The A/D line did form a lower high in early May, and has now turned lower. If the A/D breaks last weeks lows, it will develop a pattern of lower lows and lower highs,www.newdiscountdieseljeans.com, which is consistent with a further decline. Longerterm support for the A/D line sits at the uptrend line i and the March lows. What it Means: The decline in crude oil does not appear to be over, and it is ly to drag stocks lower. The CME CME raised the margin requirements on the RBOB Gasoline Futures contract after the close, which will add further selling pressure. The energy stocks are weighing down the market, as the Energy Select Spyder XLE tested key support at $. today. A drop below $. would be even more negative. If the market is going to turn around, stocks need to mount a very powerful rally tomorrow or Friday. However,Burberry bags outlet, with new inflation numbers out both days,Christian Louboutin Boots, that may be tough. How to Profit: Protecting profits is ly to be more important over the next week or so. One wants to avoid selling in a panic if the landslide becomes worse,YSL Shop Online, which it may. Several weeks ago I wrote Bulls Running?Dont Get Trampled, where I recommended: Clearly, stops should continue to be raised as your long positions move higher. I hope you did?its important to determine your stops when the market is not trading.
????????
Diesel jeans sale Burberry bags outlet Fake Flash
Christian Louboutin shoes Yves Saint Laurent Sanda
Nike Free Run Diesel Jeans Men Fashion Boutiques O
|
