Things to Watch (April 11, 2009)

Hello, whoa...what a busy trading week it has been...the market has been keeping me on my toes at all times. Especially when the market moved sideways, that has been a constant mental battle...and suddenly things exploded and bluw out the top.

Looks like all the stocks in my stock watch posted last week all worked....

At this point I haven't got the faintest idea what is going to happen next week with so many key earnings reports being released. At least WFC provided us with a brief introduction of what to expect from other key banks.

I will be watching earnings for GS (14th Tues), JPM, GOOG (15th Wed), GE (16th Thurs). So there should be plenty of opportunities going around.....

The Euro is currently moving sideways and chart patterns for Crude Oil and Gold suggest further sideways price action. But I think Gold is setting up for a big move next week...the direction is still unknown. However, do note that some key gold miners are reporting their earnings in the following week. So....I suspect the MMs will do something to the gold miners prior to earnings.

Lets review the chart of SPY. As you can see...we got this far probably because the supplies have been released up to this point. There are two more major congestion areas above 85.81 to deal with...so this market should still be traded with caution.


My watchlist for next week:
WFC, GS, JPM, AAPL, OIH, XOM, IBM