21
May
Wrap – Week Ended 5/20/11
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The world didn't end. See you guys tomorrow.
May 22nd, 2011 at 11:53 amFollow us on twitter by clicking the "follow me" button on the right side of the screen
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May 22nd, 2011 at 1:09 pmre:1…vendor at Pimlico/Preakness was going through the stands yelling….
May 22nd, 2011 at 4:32 pm"Get Your Black-Eyed Susan's….Let's Celebrate the End of the World"…..
XLE
May 22nd, 2011 at 7:08 pmXLE has 74.66 as short term acceptance after the last 3 days
of choppy trading since the 5/17 swing low. Below at 74 is longer term acceptance. Between the two areas of acceptance a tight trading range has developed twith 75.36 as resistance and 73.89 as minor support. Volume flow remain supportive of these levels but 74 is the key area to watch. A break below the 74 level with increased selling
pressure suggests a retest of recent lows and then acceptance further below.
Areas of interest are.
75.36 Resistance,CLVN
74.66 Acceptance,MinorCHVN,MCHVN
74 Acceptance, Major CHVN, VPOC 5/12
73.89 Support
72.25-.75 Major Support, Swing Low 5/17
71.24 Acceptance,CHVN
XLE Short Term
http://www.charthub.com/images/2011/05/22/ArmsStock
XLE Long term
http://www.charthub.com/images/2011/05/22/Stock_Composite2
Euro getting crunked:
http://www.businessinsider.com/the-week-begins-ominously-for-europe-2011-5
Asian stocks falling hard.
Oil off $0.70 and back below $100
S&P Fut off 5
May 22nd, 2011 at 8:33 pmre 4 – too funny, hope he made a killing on the lack of everything being killed off.
May 22nd, 2011 at 8:33 pmRevised WHX model in the morning, along with some other energy yielder name comments
May 22nd, 2011 at 8:48 pm