Weekend Update

SP-500 (Weekly) Bearish 

• Still in Bearish Fork
• Major support at 1404
• Break below 1404 would be Very Bearish
• Next support would be 1390
• IRS very over sold
• Would be very careful if I was a Bear
• Major pop could happen to the 1432 level

AAPL (Weekly) Bearish

• AAPL in a Bearish fork 
• Break below 580 would be very Bearish
• 580 is the line in the sand for the Bulls and Bears
• Watch AAPL
• Where it goes the market will go!

NASDAQ & OIL BEARISH, TLT ABOUT TO TURN BULLISH?

NASDAQ 100 (Weekly) Bearish

• Major down turn in play
• MACD turned bearish
• Bear fork target is 2550
• Break below 2550 would be Very Bearish
• Break above 2650 would be Bullish
• BEST SHORT WOULD BE AAPL!

OIL (Weekly) Bearish

• Oil needs to break above 100 DMA (95.82) to be Bullish
• Still in Bearish Fork
• Large move in Oil will take place next week

TLT (Weekly) Neutral 

• Major move underway
• Bearish if fork is broken
• Below 120.56
• Bullish if fork holds
• Bullish sign would be a break past 130.33
• New target would be 140.88

66% of A Major Crash?

SP-500 (Yearly)

(Chart From Zerohedge)

• Last 2 times we saw an 808 point climb in the SP-500
• Major crash came soon after
• Will it happen again?  
• We will know soon...Keep an eye on the NYSE
• Time to buy the Vix as a hedge if you are long

NYSE ( WEEKLY)

• NYSE is Neutral on the current read
• Break in the red line
• Market will see new lows
• Dow below 6k
• SP-500 below 600
• Break in the green line
• Market will see new highs 
• Dow over 14k
• SP-500 over 1500 

Got The Break Out, Hit 1470, Now WHAT?

NASDAQ-100 (Weekly) Bearish

• Nasdaq-100 Broke down out of Bull Fork
• Uptrend broke (Bearish)
• Break below 2500 would be very Bearish
• MACD starting to roll over (Bearish)
• Nasdaq-100 needs to break out of Bear fork soon
• Break above 2800 would be very Bullish

SP-500 ( Weekly) Neutral 

• SP-500 still in Bull Fork
• Uptrend broke (Bearish)
• Break below 1404 would be very Bearish
• MACD starting to roll over (Bearish)
• Next week will confirm if a Bear move is taking place
• If Bear move is not confirmed, QE3 could kick the market to NEW HIGHS

Light Sweet Crude Oil ( Weekly) Bearish

• Oil In Bearish Fork
• Break above 97.80 would trigger a bullish signal  
• Break below 83.50 would confirm a bearish signal
• MACD pointing to lower prices for oil
• Break above 0 could start to push oil higher