Our technical analysis of financial markets for the week-ending May 18, 2012 focused on the short-side of the financial markets.(www.autochartist.com)
Our stock market analysis focused on the technology sector and a bank stock. The technology sector was represented by the Spider Technology ETF, symbol XLK. Autochartist identified a weakness and a breakout to the downside.
Our equity research featured Fifth Third Bank, symbol FITB. This stock was also under pressure and broke through support to the downside.
The highlight of the commodity market was Heating Oil. The stronger U.S. Dollar put pressure on all commodities especially the Energy Complex. Heating Oil broke out to the downside, putting pressure on this market all week.