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XLF Financials Index

May 01st, 2009 Comments(0) tagged , , , , and

Break out or break down? Place your bets.

Typically this would be a breakout pattern (should break above, through the flat side). However, volume is decreasing and short-term RSi has been diverging from price.

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may1_xlf

SPY Rising Wedge Update, May 1st

May 01st, 2009 Comments(0) tagged , , , , , , and

The wedge completed, and seemed to resolve to the downside but only for a day.

SPY is now moving up within an uptrending channel. Volume has been decreasing and MACD is in a no-man’s land.

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may1_spy_wedge

Triangle on SPY

April 28th, 2009 Comments(0) tagged , , , , , , , and

(SPY: 135.36 +0.13%)

Waiting for a move out of the triangle.
I’m short, but not SPY.

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apr27_spy