Saturday, June 27, 2009

XLE & ERX Bear Flags

the bounce so far looks corrective after a hard dive down and now setting up in bear flags.


Anonymous said...

Hi stewie, did u notice the huge volume on the indexes like compq, $mid, etc? Wouldn't volume have to contract in a bear flag? This may mean we launch before we drop...jmo. Thanks.


Stewie said...

hi tsy,

i am not sure why the volume in nasdaq. maybe PALM? not sure. thus far, the like of aapl, goog, bidu, palm look strong-ish but the energy sector is definitely lagging in here. So we will have to watch how all this transpires come next week.

Unknown said...

My 2 cents
Market Europe - The idea comes to my mind - Range
The upper band of the range was visited on most indices. In the coming months expect a visit lower band again.
When I see the Vix to fall this way and the market with low volume,I think markets will crash or will visit again in sideways lower band of the range.
At the beginning of the year in most indices had a false break of the range. Let's see what market will do in the next 6-9 months.
Click to zoom in.

Stewie said...

ahh. index reshuffling in the reason for the heavy volume in some indexes.

Stewie said...

thanks for your insights carlos. i am so curious to see what the indexes will do come sept/oct time frame. A pick up in volatility and return of volume? bring it on!!

Anonymous said...

We are going down hard tomorrow, Tuesday, or both days. I see 880 minimum. If the small chance this doesn't happen, it will just be a flat sideways week on light holiday volume until following week then.


Blue said...

I want another 20% October please.

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