July 27th - Stock Market Review - Oil

The OIL is in up trend even so the long term trend is still in down . There isn't any sign for a short yet but we are now at very critical level , the 36-36.5 should act at resistance .
Any Short is too early .

July 27th - Stock Market Review

Every one is so bulish now that make me feel that we are going to turn around. It is only a feeling and feeling doesn't pay the bills. Short are still too early. We still have higher lows and higher high.

There isn't any sign that we are going to turn around in any time frame.

SPY- long can be taken above 98.15 and short under 97.5

QQQQ - long above 39.4 and short under 39.1 . Bearking the 38.75 level and we get a lower low, but it doesn't mean that we are going to turn lower , it is only mean that we turn sideways.

July 27th - Stock Market Review - The Big Picture

What a rally , more then 50% from the lows. There isn't yet any sign that we are going to turn around. The Short term trend is up But the long term trend is still down , the MA 50 weekly is still declining. The next potential resistance for the QQQQ is 40-40.5 that is the 61.8% correction from the lows, this level will very hard to break.

For the SPY the next potential resistance 98- 101.