Sunday, June 28, 2009

What This Week May Bring

Chart analysis from Tickerville and Breakpoints Trades:

Tickerville Tape Talk

"Everybody is watching the head and shoulders in SPY. Intermediate term is bearish. Head and shoulders everywhere - IWM, XRT, EEM. But obvious is not necessarily actionable. We are at a very critical juncture right now."

Qman seems to like commodities (DBC, DBA, GLD), bearish on financials.

Breakpoints Trades Market Recap (end of Thursday 6/25. I'm supposed to get Sunday version but it hasn't arrived yet...)

Their longer-term market charts are always helpful. They have no illusion about the rally off the March low, and Wave C that will take out the low will happen eventually.

"In a choppy market like this, swing trade doesn't work well. You'd better take profit quickly."

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