Monday, April 16, 2007

ETF update for Tuesday April 17

SPY has broken above it's previous high, QQQQ and DIA have not reached their previous highs. IWM is close to it's previous high. I am patiently waiting for a pullback. I am also surprised by the length of this latest upswing in the index and foreign ETF's. Pullbacks will come eventually.
EEM - Price has reached the trend line that was support, could be a resistance now.

Still long USO, moved my stop loss down to 50.44. If trend line support gives, I will switch from bull to bear and go short. A break of support would be around 50.26.

No comments: