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Daily Archives: May 26th, 2008

Market Forecast + Sector Watch: SPX, Nasdaq, XLF, USO, PBW, GLD

May 26, 2008 – 7:48 pm

Last week, the market could not continue with its new leg up and had a reversal. For the week, the Dow was down 507.17 points; SPX lost 49.42 points; Nasdaq slid 84.18 points. VIX closed above 19, at 19.55; but, its intraday charts are showing “toppiness”.
SPX

On Friday, SPX lost 1375.93 points to close […]

By HappyTrading | Posted in Uncategorized, Nasdaq, SPX, GLD, XLF, USO, PBW | Comments (0)

Weekly Wrap!

May 26, 2008 – 6:48 pm

It was a tough week for the market last week. We’ve been watching VIX carefully to see how it handles the support at 16. On Monday, the market started out strong, but, as soon as VIX hit 16, profit-takers came right in; and, we turned on the “caution lights”, as I said, “Being […]

By HappyTrading | Posted in Uncategorized | Comments (0)