07/26/2011 Market Outlook (IDNU Leads Market?)


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SHORT-TERM: THERE’RE SOME CHANCES THE HIGH WAS IN

Nothing to say today, all eyes are on debt ceiling deal, so really hard to see through the future. Purely from TA aspect, I think I’ve collected enough evidences arguing for at least a short-term pullback. As for the pullback target, if only SPX breakdown below its 07/20 low, I’d call my forecast successful. The chart below, 1.2.0 INDU Leads Market also argues that the 07/20 low will be broken.

INDULeadsMarket

INTERMEDIATE-TERM: BULLISH JULY

See 07/01 Market Outlook and 07/05 Market Outlook for more details.

SEASONALITY: BEARISH FRIDAY BUT BULLISH WHOLE WEEK

See 07/22 Market Outlook for more details.

Also see 07/01 Market Outlook for July seasonality chart.

ACTIVE BULLISH OUTLOOKS:

ACTIVE BEARISH OUTLOOKS:

SUMMARY OF SIGNALS FOR MY  PUBLIC CHART LIST: 

  TREND MOMENTUM COMMENT
Long-term 2 of 2 BUY
Intermediate 4 of 5 BUY 5 of 5 NEUTRAL Cobra Impulse in BUY mode; Non-Stop in BUY mode.
Short-term UP 6 of 6 NEUTRAL
  TREND COMMENT
QQQ & Weekly UP  
IWM & Weekly UP  
SSEC & Weekly UP Big red bar usually means a start of downtrend, so be careful here. 
EEM & Weekly UP *Hollow red + Solid Black, 2 reversal bars in a row, so pullback?
XIU & Weekly UP
DAX & Weekly UP  
TLT & Weekly DOWN  
UUP & Weekly DOWN
GLD & Weekly UP  
USO & Weekly UP  
XLE & Weekly UP  
XLF & Weekly DOWN
IYR & Weekly UP 4.4.3 Real Estate iShares (IYR Weekly): XHB lags, be careful.
XLB & Weekly UP  
  • * = New update; Blue Text = Link to a chart in my public chart list.
  • UP = Intermediate-term uptrend. Set when weekly buy signal is triggered.
  • DOWN = Intermediate-term downtrend. Set when weekly sell signal is triggered.
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