Bulls need to prove it this week
- Posted by hcpg
- on November 13th, 2011
This week should be pivotal — we’re right against resistance in many sectors and it’s up to the bulls to take the ball.
$XLF through this down-trend could cause a squeeze (that being said the first attempt on it could be a nice opportunity day-trade short –all about time-frame) .
$SPY going back to the top of the handle — needs to get rocking if it wants to get the juices going for a year-end rally. Thus far every attempt has been squashed — again, up to the bulls to prove different.
$XME lagging — still under the range.
Copper $HG_F still the weak link even though no one seems to care about it anymore. Needs to get going above that trend-line and 50SMA to get the bulls excited.
Best looking in the commodity region is the $OIH — right at resistance, looks like it wants to be the first to break-out.
Should be week full of opportunities, be it failed break-outs (resistance shorts) or finally some continued bull follow-through. Buckle-Up.
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