Weekly Summary

It has been a while I posted anything here. Seems like inflation is not happening and the deflationary forces is higher. TBT collapsed after I bought the call options. Ouch!

The sector summary for the week ending 23 Jul 2010:

USA	Monthly	Weekly	Daily
S&P500	Down	Neutral (+)	Neutral
DJI	Neutral (+)	Neutral (+)	Neutral
NasdaqComp	Neutral (+)	Neutral (+)	Neutral
DJ Transport	Up	Neutral (+)	Neutral
DJ Utility	Neutral (+)	Up (+)	Up
Russell 2000	Up	Down	Neutral (+)
AMEX Airline	Up	Up	Up
AMEX Biotech	Up	Down	Neutral (+)
AMEX Gold Bugs	Up	Neutral	Neutral (+)
AMEX Natural Gas	Down	Down	Neutral (+)
AMEX Oil	Down	Neutral (+)	Neutral
AMEX Security Broker	Down	Down	Neutral
AMEX Telco	Up	Up (+)	Up
KBW Bank	Up	Down	Down (-)
KBW Insurance	Up	Down	Neutral (+)
PHLX Housing	Down	Down	Neutral
S&P Retail	Down	Down	Neutral

As you can see, the performance for the various sectors are mixed. There is no clear winner at this moment. Currently, telco and airline is the strongest. I'm still waiting for the mining sector to perform.

TBT

TBT Daily Chart

Looks like a break. It's almost 1 year that I didn't trade in any options. TBT options is my first of the year.

Disclosure: Long

Nova Gold

NG Daily Chart

Long in Nova Gold (NG). Gave me a buy signal and may have been broken out of the short term downtrend. This stock is trading in a tight channel.

USA Weekly Summary

S&P 500 Daily Chart

S&P 500: Seems like it is now testing the resistance turned support that it has broken 2 weeks ago. Trend is still up.

DJI Daily Chart

DJI: Different case for DJI. Still no success in breaking the upper resistance line. Now, just a few points above the uptrend support line. Trend is still up.

Nasdaq Composite Daily Chart

Nasdaq Composite: The movement for this index has the same pattern as the S&P 500. Support is at around 2260.

The summary for the rest:

USA	Monthly	Weekly	Daily
S&P500	Up	Up	Up
DJI	Up	Up	Up
NasdaqComp	Up	Up	Neutral (-)
DJ Transport	Up	Up	Up
DJ Utility	Up	Up	Neutral
Russell 2000	Up	Up	Up
AMEX Airline	Up	Up	Up
AMEX Biotech	Up	Up	Up
AMEX Gold Bugs	Up	Neutral (-)	Neutral
AMEX Natural Gas	Up	Up	Neutral (-)
AMEX Oil	Up	Up	Neutral (-)
AMEX Security Broker	Up	Up	Neutral (-)
AMEX Telco	Up	Up	Neutral
KBW Bank	Up	Up	Up
KBW Insurance	Up	Up	Up
PHLX Housing	Up	Up	Up
PHLX Semiconductor	Up	Up	Neutral (-)
S&P Retail	Up	Up	Neutral (-)

You can see that there were a lot of correction last week. Commodity play is still under correction.

Weekly Summary

NASDAQ Composite Weekly Chart

Nasdaq Comp: Broke out of rising wedge. Next resistance at 2350. Daily and weekly chart is slightly overbought. Monthly chart shows that there is still a lot of room to go.

DJI Weekly Chart

DJI: Making a rising flag. Daily still not yet overbought. Therefore, it is still possible for it to break higher. If it does, next resistance at 11000.

S&P 500 Weekly Chart

S&P 500: Daily still not yet overbought. Next resistance is at around 1200-1220.

The summary for the rest:

USA	Monthly	Weekly	Daily
S&P500	Up	Up	Up
DJI	Up	Up	Up (+)
NasdaqComp	Up	Up	Up
DJ Transport	Up	Up	Up (+)
DJ Utility	Up	Up	Neutral
Russell 2000	Up	Up	Up
AMEX Airline	Up	Up	Up
AMEX Biotech	Up	Up	Up
AMEX Gold Bugs	Up	Up (+)	Neutral
AMEX Natural Gas	Up	Up	Up (+)
AMEX Oil	Up	Up	Up
AMEX Security Broker	Up	Up	Up
AMEX Telco	Up	Up	Neutral
KBW Bank	Up	Up (+)	Up (+)
KBW Insurance	Up	Up	Up
PHLX Housing	Up	Up	Up
PHLX Semiconductor	Up	Up	Up
S&P Retail	Up	Up	Up (+)