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The latest from the
OptionsHunter session 05/25/2009 Major Market Indexes have great influence on the sectors, some lead, some lag.
SPY -
Weekly, as long as
indicator is higher the second time from the first time
with the new low price, this is a divergence. The
daily chart has a Double Top around 93 with a downside
divergence this week, this could spill to the weekly but
probably won't because the weekly MACD is still above the
price. There is still a strong push to the upside but still
has alot of inertia at the daily level. In order to
get back into call options, would need the blue line on the
MACD to turn back to the upside.
CY - Weekly wants to lead higher, monthly strong, but not
leading the price, has DT with downside, don't see upside
entry and the downside is too iffy. Agricultural group - POT, MOS and BUNG, three strongest in the group, the others are just meandering. AGA (AG Short fund x 2), moving lower which is a good sign for movement to the upside for agricultural stocks. CAT - weekly is still strong, could turn higher, but have to witness a pattern on the daily or hourly for re-entry. Need to have patience for re-entry into calls. |