Weekly Market Review: May 29, 2009

It can't be a coincidence that on the last trading day of the month, the market made a 10+ points run (S&P 500) in the last 5 minutes to close at just below 920 and back to where we were 3 weeks ago.

Note in Figure 2 that we're still below the recent uptrend. The recent market action is playing nicely according to the resistances and supports marked on Figure 2 so far.

I made 3 attempts to short GEthis week but none reached my target with an overall breakeven outcome in total.

For next week, let's see if the market can continue with this upward momentum established today and break back above the rising resistance at 920 (about 925-930 next week). If not, then I'll remain bearish and continue trying to re-enter a short position.

On another note, I've adopted a less vigorous schedule working on MatLab for now to study for a test late in the year relating to my real profession. This is a decision based solely on opportunity cost. Even though I was making good progress with my MatLab development...

[caption id="attachment_1490" align="aligncenter" width="500" caption="S&P 500 ETF"][S&P 500 ETF][][/caption]

[caption id="attachment_1491" align="aligncenter" width="500" caption="S&P 500 ETF"][S&P 500 ETF][][/caption]

GICS Sectors Review

Ticker![][] Last![][] RSI7d![][] RSI7w![][] RSI7m![][] Zone (estimate)![][]
[XLE][] \*
50.73 62.66 64.6 44.29
[XLB][] \*
26.38 51.13 62.94 45.34
[XLI][] \*
21.96 47.68 57.5 37.54
[XLY][] \*
22.74 47.42 59.99 46.13
[XLP][] \*
22.87 53.81 66.11 43.95
[XLV][] \*
25.39 54.67 58.72 40.77
[XLF][] \*
12.01 55.05 63.35 38.5
[XLK][] \*
17.46 60.84 64.13 46.86
[IYZ][] \*
17.74 53.01 61.01 45
[XLU][] \*
26.58 56.25 54.44 33.57

[caption id="attachment_1492" align="aligncenter" width="499" caption="6 months: XLE XLB XLI XLY XLP XLV XLF XLK IYZ XLU"][6 months:
XLE XLB XLI XLY XLP XLV XLF XLK IYZ XLU][][/caption]

[caption id="attachment_1493" align="aligncenter" width="500" caption="1 month: XLE XLB XLI XLY XLP XLV XLF XLK IYZ XLU"][1 month:
XLE XLB XLI XLY XLP XLV XLF XLK IYZ XLU][][/caption]

[caption id="attachment_1494" align="aligncenter" width="500" caption="5 days: XLE XLB XLI XLY XLP XLV XLF XLK IYZ XLU"][5 days: XLE
XLB XLI XLY XLP XLV XLF XLK IYZ XLU][][/caption]

[S&P 500 ETF]: http://traderpau.files.wordpress.com/2009/05/2009-05-29-spy.png [S&P 500 ETF]: http://traderpau.files.wordpress.com/2009/05/2009-05-29-spy_prop.png [6 months: XLE XLB XLI XLY XLP XLV XLF XLK IYZ XLU]: http://traderpau.files.wordpress.com/2009/05/2009-05-29-6m_sectors.png [1 month: XLE XLB XLI XLY XLP XLV XLF XLK IYZ XLU]: http://traderpau.files.wordpress.com/2009/05/2009-05-29-1m_sectors.png [5 days: XLE XLB XLI XLY XLP XLV XLF XLK IYZ XLU]: http://traderpau.files.wordpress.com/2009/05/2009-05-29-5d_sectors.png