Market Trend WW15

Goldman Sach fraud issue be a good catalyst to push down market, a long waited pullback, DOW has been 7 weeks bullish , could we have 8th candle reversal on next week ? big brother like GS, C ... will announce earnings, will this pull back a mild momentum and market continue to rally ? Indicators shows it is still bullish trend, above 20 days SMA.

DOW weekly candle

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Dow Daily candle

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Coincidentally VIX has touch extreme lower band of Bollinger, the bounce on Friday quickly touch on upper extreme band. one or two more candle on upper band confirm a pull back, it will be pretty volatile as this is just beginning of Q1/10 earning season.

SnP VS VIX

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sectors performance wise will be leaded by consumer discretionary, technology and industrial. Friday GS fraud issue wipe out whole week Financial sector gain.
Quaote from www.sectorspdr.com

By pbkian at 2010-04-16