Tuesday, November 9, 2010

Updated Charts

Here are support and resistance levels for Apple (AAPL) –



Here are support and resistance levels for Baidu (BIDU) –



With Financials breaking out, here are resistance levels for Bank of America (BAC). BAC has crashed and is now bouncing. Resistance has held the entire way down. A breakout would be bullish for one of the biggest laggards in Financials.



Here is the S&P 500 (ES Z0-D). You can see that it is a few percent above support, but as long as that support holds, the uptrend remains.



The Euro (6E Z0-D) is pulling back and testing support. The chart of the US Dollar looks like the chart of BAC. When the Euro finally corrects, I am assuming that that will adversely impact commodities and stocks, so I am watching the Euro closely.



US Treasuries (ZB Z0-D) have been in a multi-week trading range. The price of the 30-year has been hit pretty hard, when you consider that it is a bond and is normally owned by conservative investors looking for income and safety. Nothing seems to be safe anymore. Everything is volatile…

Support is very close to the current price. Let me just note that I am watching US Treasuries very closely.

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