SPX - UPDATE, Technical Support Surpassed

Uh-oh...

Updated chart from my previous post 4 trading days ago. It's no man's land now. Could we see 1040 on the S&P?

GLD, TLT, SLV - What's Working Right Now

Here are some winners that have gone up during this down draft. Bonds and precious metals.

SPX - Bearish Outlook

There is a completing head and shoulders pattern forming on the S&P. Almost a textbook formation. This means a very possible move to the downside for the market in the coming months.

Large economic factors at play:
• Declining GDP
• Drop in manufacturing
• Flat job market
• National Credit rating in question

DIS, CGNX, XLU - 3 Potential Tradable Patterns Developing

DIS - Cup and handle developing. Fundamentally not much to boost this stock and there is a lot of overhead resistance. I see a price target in the $42 range. Might be a good short term trade. Ultimately its going to take much better quarterly earnings to churn through and get back on top.

CGNX - This is an ugly inverse head and shoulders pattern developing. The stock is bounce off the 50ma with regularity. I'm not extremely hopeful for a powerful breakout based on its decreasing volume but the the lack of overhead resistance might make a breakout possible if the market is strong.

XLU - This ETF trades off the utility sector. Today's action bounced off resistance. Looking for a breakout. I've included the sector's index which this ETF trades from.

IBB - Biotech ETF Inverted Head & Shoulders Pattern Developing

A break through the 110 level could mean a rise to a price target around 118-120 level.

LCC - US Airways Head and Shoulder Pattern Complete

I posted [THIS SETUP] 2 weeks ago anticipating a breakthrough to the downside. I wish I would have followed my own analysis and shorted this. Its down over 15%.

INPH - Interphase Breakout Chart Pattern

I am long this stock today based on a symmetrical triangle pattern breakout. I calculated the technical target to be around 5.90. Earnings are in a week.