B"H
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OIL-Bearish Technical Developments Including Channel Break & Candlestick Analysis:
This would be consistent with the Bearish Oil indicators sent out more than one week ago in the Chartingstock link below which was published on June 11-the current intermediate term top for Oil prior to the OIH-Oil Service Holders current 12.32% drop from those highs & Oils approximate 6.5% drop from those June 11th current intermediate term highs. Overall, just as with the S&P 500, one cannot rule out a possible pop higher & continuation of the Oil Bubble/Rally. That being said-it continues to be extremely important that any long Oil or Energy positions be hedged or otherwise protected from probable continued near to intermediate term downside risk. Despite the very long term positive settup for Oil near to intermediate term technicals suggest great caution is warranted for Oil.
Oils Bearish Channel Break May Be A Warning of More Downside Risk According To Zug A Switzerland Based Consultant For Petromatrix GmbH & Published on Bloomberg.com 
Oil Candlestick Analysis By FuturesTechs.com Ltd Shows Increased Probabilities of Bearish Downside Levels. Watching For Confirmation of the Bearish Settup With A Break Below $71.10 & Then Possible Move Down Towards Trendline At $67.65 for ICE Futures Barrel of Brent Crude Oil & Published on Bloomberg.com
Oil Article Published By Chartingstock on June 11, the current Intermediate Term Top Pointing Out Numerous Warning Signs & Including Peter Beutell's Analysis Pointing To A Likely Top In Oil & A Potential Drop Down Towards $39.80 In The Late Fall Or Early 2010
S&P 500-Technicals & Internals Deteriorated Last Week Suggesting Further Downside Movement Probable Near Term. A Continuation of the Rally Cannot Be Ruled Out But Risk Management Essential:
This morning in the futures markets the S&P 500 is trading down approximately 1%. As I wrote over the weekend, technicals & market internals deteriorated last week & there continues to be an increased probability of the S&P 500 testing the 870-880 level in the near term. One cannot rule out a continuation of the rally but as I have written about consistently for weeks, overall risk management measures for Long & Short positions continue to be of the utmost importance. When one considers the numerous Bearish Technical developments for Oil & Energy as written about above & the fact that Oil/Energy have been one of of the leaders for the rally up until this point, it further accentuates the need for protective options & stop-loss orders.
There are 3 major market moving events this week including the Federal Reserve Meeting Interest Rate announcement Wednesday June 24th at approximately 2:15pm, Treasury aucitons Tuesday, Wednesday & Thursday & Initial Jobless Claims Wednesday at 8:30am. Since market technicals & internals have been deteriorating it remains wise for traders to continue to increase risk management measures especially on long positions.
For further detailed S&P 500 analysis please visit the 2 pieces written over the weekend:
For The Excellent Video Market Analysis from "Tickerville" done by Quint Tatro & his father Bill Tatros discussing the both the current market technicals & the possibility (note: possibility not certainty) for dramatically lower levels please visit this link: http://www.tickerville.com/index.php/site/comments/fathers_day_with_pops/
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BOTTOM LINE
As always appropriate risk management techniques should reward traders & investors alike in the near term. Many very respected traders & money managers continue to hold 80-99% cash levels after the spring rally. They are neither long or short the market accepting that the rise from the Marhc levels has been quite dramatic & that historical comparisons between similar stock market crashes & subsequent rises indicates that a further retracement while not a certainty is likely. The same can be said for Oil which has experienced the second parabolic bubble move in two years. While one cannot say a continued Oil pullback is a certainty, having appropriate risk management measures in place should reward traders who continue to be long Oil & Energy positions.
Good Trading
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The Proper Use of Protective "Hedging" Options, Stop-Loss & Trailing Stop-Loss Orders May Be Helpful & Can Save You Thousands
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Disclaimer--The Above is For Educational Purposes Only, Please read the full Disclaimer below. STOP-LOSS ORDERS MAY BE A HELPFUL TOOL TO PROTECTING PROFITS & LIMITING LOSSES EARLY.
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