MM

P's Bull-Bear Tasks

Thursday, August 13, 2009

What Home Builders?


Home builder stocks have been carving a nice 40 week base and is trying to break. Despite what I think of the homies The group chart is telling me to possibly get bullish with a qtr size in position.
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Oil

Currently oil has been running in a range for some time now. I see a bow tie trying to forum off the daily. I would not get too excited about it until it breaks the range highs and has a nice orderly pull back. Anyway oil might be worth keeping an eye on…

XAU

XAU

Market Pulse 03/06/09

XAU daily suggests a stiff pullback, now what I don’t like about the current bullish action is the drifting in price action. Short term bias is short under March 6 low.


030209

I see a sell signal in the S&P500 as price has violated old lows. Here is a 2 day chart with stocks above or below their 40 pma (Green line). Price is the yellow line and the RS of the 40pma (Red). What I’m looking is the hard right edge. Notice the cross down, this suggests more downward pressure.