XOM - Up against its lower trendline. You could go long with a stop beneath it; however, I would look to go short if/when the trendline fails.
CVX - same.
GLD - still bearish in the intermediate term.
AAPL - will ultimately resolve itself south of 85. Remember, there's rarely such thing as a quadruple bottom.
SRS - Get long (not necessarily a short term trade)
SKF - Get long (not necessarily a short term trade)
SPX - Actually looks okay on the 60 day chart but keep in mind the big picture. Plus, all of the so-called significant levels (920, 900, ...) keep failing so I wouldn't bank on any support levels on the downside. Overhead resistance continues to be dominant.
Saturday, January 10, 2009
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