Options and Stock Market Technical Chart Analysis for January 25, 2010 by Idan Koren

Today we look at the inside day that we got on the SPY. This is definitely not looking great for the Bulls and the set up in the last 20 minutes looks more like a "puke trade", where you get a gap down and some more selling right at the beginning of the day. With a break of yesterday's low, we may see some stronger selling pressure come in, and a fall of as much as 10% in less than a month. I suggest to stay short the overall market as long as we remain below the 50 SMA daily. I also talk about BDK, EW as short opportunities, and RINO as a potentially long position. A quick glance at GOOG makes me bearish about tech, there just isn't much support to it right now.

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