Sunday, May 27, 2012

Memorial Weekend Market Update 052912

Observations:

-SPX & NDX closing in on the 200SMA on daily, wedging at the 24% fib (RUT bounced is above it's 200SMA)
-Dollar broke out and is uptrending toward 84, RSI is 82.3
-Crude sitting on 90 UTL support on the weekly
-TLT triple top? Also negative divergences at this retest
- AAPL at DTL resistance will need for it to break up and hold 50% fib (570) for any meaningful rally in the markets with next resistance around 580-582.
- VIX is uptrending holding above 20
-McClellan Oscillator is down trending

SPX (Daily, 30 minute)




NDX (Daily, 30 minute)





RUT-X (Daily, 30 minute)





Dollar (Daily)



Crude (Daily)



TLT (Weekly, Daily)



Gold (Daily)




AAPL (Daily, 30 minute)




Shanghai Composite (Daily)



VIX (Daily)


McClellan Oscillator


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