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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 681.89+0.3%Oct 31 5:00 PM EST
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To: Johnny Canuck who wrote (64760)7/25/2025 3:33:02 AM
From: Johnny Canuck1 Recommendation

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Index Update July 24 2025

Another 52 week high on the SP500, supported by a new high on the OBV.



DOW did not confirm the new 52 week high. It stopped just below the previous 452 week high so it is potentially vulnerable for more downside.



DOW transports also starting to see some weakness. Given the over bought condition the line in the sand for me is the 20 day EMA.



DOW utilities seeing some profit taking after a classic 3 consecutive up days in a row. So far stay above the previous 52 week high.


TLT still in the next down leg of the dead cat bounce pattern.



USD still struggling with the minor resistance 98 cent level.



COMPQ momentum starting to stall. It needs some sideways consolidation before the next direction or some good news.



SMH bounced at the 20 day EMA for now, but below the surface there is some damage being down in the semi sector as ASML. KLIC, TXN, ADI and MCHP now below the 50 day SMA.



Russell 2000 still waiting at resistance. In no man's land



Financials waiting near the 52 week high.



Energy back the midpoint of the long term sideways channel.



Gold back to waiting.



Consumer discretionary failed the break above resistance move.



We are starting see a breakdown of individual stocks within sectors especially semis. Watch for further weakness.

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