SPY @ Resistance

I had a nice week, with picks of JOYG and BLK.. in fact, anyone who was long the market did well this past week. But, as mentioned, the market is at resistance here. Great time to tighten stops, take profits, start hedges, go short, etc. SPY above 114, and the market breaks the down trend line, and heads higher.

tb

JOYG Chart...

this chart is a coiled spring...

the stock is going to pick a direction, and move fast, soon...

tb

BLK Chart...

I ran across this stock's chart, and I like the pattern being formed. This is a low risk entry right here...

tb

SPY Forcast...Cloudy with a 50% chance of rain...

Right now, the market "weather" looks like sunny in the near term forecast, but, long term, I think we will see dark clouds forming, followed by rain, and maybe even some hail...

In other words, go long here with cautious optimism... if this holds true, be ready to exit longs, and/or start hedges around 110ish..

tb

Leaders lag...

Leaders lag the market to the downside... Most stocks have corrected some, but consider AAPL, which has been "consolidating" for the past several months.. or has it? The stock price is flat, but the MACD shows that something omnious is about to happen... MACD is a leading indicator, and with flat price, and falling MACD, you have bearish divergence...
Watch $240...

tb

Dollar @ support...

Dollar is right on support, expect a near term drop in equities...

tb

I have an ERY (pronounced "eeerie") feeling about this market...

tb