Market Summary

Three days of selling have taken us back three months in terms of where price has gone. It was the second day of selling when we broke the lower trend line for the rising wedge formation which is a bearish chart pattern. Now we have come very close to a reversal in the long term (weekly) sentiment. Will the markets continue south or will we get a bounce? Click on image to enlarge.

For the week the natural gas ETF UNG did the best up 2.58% followed by the dollar tracking UUP up 1.94%. The biggest losers for the week were FXI down -7.26%, EFA down -7.06%, and USO down-6.96%. Click on table to enlarge.