ChartCast 6/14: SPY Descending, DIA Below 200-DMA (QQQQ, UUP, GLD, SPY, DIA, TLT, VIX Charts)

I went over SPY, DIA, QQQQ, UUP, GLD, TLT and the VIX at today's close on DVtv's Chartcast.  RIMM is trading lower in after hours trading by the way.  These charts are courtesy of FreeStockCharts.com.  SPY is approaching the shelf of judgment again, after possibly forming a right shoulder in a descending triangle. What do you think? It could test the shelf and decide from there, like July 2009 1, 2, 3.  The market could be pricing in a double dip recession or slow down.  I always thought that the June 2009 plateau looked like decent support for $SPY, which is $96, down 10.2% from here.

DIA (Dow ETF) took out its 200-DMA today (see ETFs trading above/below their 200-DMA yesterday).  Add the Industrials to the S&P, ITB (Construction), XLF (financials) and XLV (healthcare).  Also, UUP (US Dollar ETF) is testing 50-DMA support, GLD is testing serious support levels and TLT (Treasuries 20+) is hitting up against a ceiling in ascending triangle.  Something is about to happen, I can feel it.

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