Sunday, May 13, 2012

Market Impasse 051312

Just some weekend homework/observations:

- Still down channel flagging action on SPX & NDX
- RUT still has the H&S or possible descending triangle
- SPX having trouble getting above 23.6% fib
- Looking like weak bear flags on the major indexes
- AAPL keeps sliding along previous down channel and now forming what looks like a bear flag
- XLF sub 15 (thank you JPM)
- Dollar at crucial down trend resistance
- EURUSD looks like double bottom (January lows) coming sub 1.27000
- VIX approaching 20 resistance

SPX (Daily, 30 minute)

NDX (Daily, 30 minute)

RUT (Daily, 30 minute)

AAPL (Daily, 30 minute)

XLF (Daily, Hourly)

Dollar (Daily)

EURUSD (Daily)

VIX (Daily)

McClellan Oscillator (Daily)