Wednesday, July 1, 2009

The Bull - Bear Battle Continues

Range Bound Market Begging for a Demonstration Breakout
5 Day, 15 min - July 1 - The Channel Trend remains Bullish but there are undercurrents of Bear Unrest. Traders continue to get jerked around. This is excellent territory for Condor enthusiasts.
60 Day, 2 Hr. - July 1 - Long Term vs. Short Term = Sideways
/ZT-/ZN - July 1 - Two Year Treasuries vs. Ten Year Treasuries. There is a strong comparison of Treasury Rates and Market Action. Compare this Chart with the 3 Month Daily SPY below.
3 Month, Daily - July 1 - Recent erosion of upward trend closely parallels the Treasury rates which portrays the Money Flow. "Follow the Money."

Market Crossroad

Trends, Currents, & Cross Currents - Confusing Road Signs Abound
60D, 2 Hour - June 30 - When the picture is mixed short term, it is best to look at longer term charts. The Longer Term Trend remains up but there are significant indications that the momentum may be broken and we could head lower.
3 Month, Daily - June 30 - The Trend is Our Friend and should not be ignored. Always expect the market to do the unexpected.