The perfect set up

Great week for the bears, but expect some short covering next week. Here is why:

1) SPY is coming into major support @ $110 (the thick blue trendline)


2) DIA is coming into major support @ $102.80 (the thick blue trendline)


3) UUP is forming bearish patterns on the 60-min. The bearish pattern is confirmed with major supports on GLD and USO

4)Stocks like IBM, XOM, JPM are all coming into major support.

So take your profits bears!

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*GLD has broken its neckline, refer to the last post

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