16 MAY 2010, Sunday

• Market is still trying to figure out what it wants to do after last week's shock.  Could go on for another week or two.
• Daily chart...On Monday it recaptured the 90dMA (green), the yellow trend line it had broken down through and the JAN highs (1150's).  Held it Tuesday-Thursday, met resistance at the 50dMA (red) and RSI 50 area, then gave 'em up on Friday.  And volatility is still 3 times what it was just last month.  
• Weekly chart...Interestingly, the plunge stopped at the 50wMA(red) and the black up trend line.  90wMA is below in the low 1000 area.  RSI held the 50 area but MACD has rolled over.
• Messy market...wish it were otherwise.  Thus, for investor types, I fall back to the daily chart and its guidelines of the 90 and 50 day MA's...price above both is a positive, price below both is a negative, price between is neutral.
• Just trying to keep it simple until I get a clearer picture.  One day at a time.