Market Diary

Goldman loosing support.. Next target 135

BP is reversing .. Target -57

POT is breaking UP from the resistance

In 60 days/hourly a bull flag is forming in S&P 500

Amazon showing a Head & Shoulder pattern in 60 days/ hourly chart.

AAPL is in good re entry point. Target 285

Pennant formation in ISRG

FSLR Broke UP the cup and handle Next Target: 163

X is in good support with UP Trending channel. Target- 85

In Last 20 years 2 cycle finished with Bear and Bull. Both Cycle started on Sep/Oct and reversed on March. Bull Market ran for 4-7 years and Bear Market last only for 2 -3 Years. Bear Market used to eat up 70-110 % of the market rally of the Bull Market. Now Who You are ? Perma Bull or Perma Bear :)

Portugal,Greece and Spain Downgraded

Last one year VIX Spiked ( Market sharp pull back) 5 times VIX is getting into a resistance level. Yesterday's action could be a BEAR Trap.

$NYHL index was 643 level on Monday, when ever this index goes beyond 400 level, used to pull back sharply from March 9 TH 2009 onwards ( recent bull market) When it reaches towards zero line, used to get rally as well. Index didn't pull back beyond zero line from March 9 TH 2009. !! Until March 2009 index's most of the action was below zero line as well.

$NYHL NYSE New Highs- New Lows Index is new 2 year high. means most of the equities are new highs than new lows.. No fear in the market and everybody is buying..

Pottash, and First Solar are turning around from the support

2553 is the next level to watch.. If break down of 2484 will lead a small pull back towards 2412

Russell is leading in whole market, 765 is the next level need to watch. If break down of 717 will lead to pull back towards 694.

Dow is strong bullish in pattern. Next level 11883. Watch 11068 break a short term pull back towards 10891. Probability : 80 % - UP 20 % Down

Spider will get into next level, if spx broke up1220.32, Next level will be 1312. Watch 1200, if spx broke down, there will be short term pull back towards 1130. Probability : 70 % UP and 30 % Down

VIX is in a down trend from March lows of 2009. In last bull market VIX was in 10 -15 range for about 3-4 Years. Now VIX is getting there. So are we starting 3-5 years Bull to sideways market ? If so dust off our Iron Condor strategies !!

Watch for healthy pull backs of following equities for your long term portfolio

A Bullish pattern is forming in GS