Bulls need to prove it this week

  • Posted by
  • 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.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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