Dow & S&P 500 market analysis
We are now in a crucial stage of the market movement. Any big movement up will signal the continuation of the rally since March 09, and any big movement down will signal the end of the rally and also a confirmation a down movement that started from mid June 09 that may bring us to retest the March lows. However by looking at the behavior of the market, I’m in favour of a market tank down to retest the March lows.
But for this tank to happen, the market has to fail to break above 910 for S&P and 8476 for the Dow. So my market analysis for today will be up, to test the resistances.
Direction for 07/14/2009 Tuesday: Up
Crude Oil (USO)
Crude should be going through a period of consolidation between 59.30 to 62 for the rest of the month. The setup of crude seems to indicate a down movement which may bring crude back down to 53 and maybe beyond.
Direction for 07/14/2009 Tuesday: sideways
Tuesday, July 14, 2009
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