Sunday, June 28, 2009

Down day monday...

There is a small bearish ascending wedge on the 5 day 1 minute chart. We have also retraced 50% of the 6/11 high. Daily stochs are currently neutral.

Possible head and shoulders forming...
VIX:SPX has hit its trendline, so I expect a rebound here. Though the MACD looks worrisome as it looks to cross over.
BPX:CPC finally crossed so I expect us to revisit the low long term.