Friday, October 19, 2012

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