Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 693.95

+0.5%

Feb 9 4:00 PM EST

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To: Johnny Canuck who wrote (46588)	2/26/2011 6:36:37 AM
From: Johnny Canuck	Read Replies (1) of 70661

Dow 12,130.45 +61.95 +0.51% Nasdaq 2,781.05 +43.15 +1.58% S&P 500 1,319.88 +13.78 +1.06% 30-yr Bond 4.5160% -0.0190 NYSE Volume 4,389,704,000 Nasdaq Volume 1,901,782,500 Indices bounced as expected after 3 down days in a row. Normally sell off or rally last 3 days an then take a rest. 4 days in a row occur less often and 5 is extremely rare. The volume on the rally was quite a bit less than the sell off yesterday. The indices now need to clear the recent highs soon or the indices will stair step down till we reach the major support levels mentioned previously. Interesting, multiple top in gold. A failure to establish a new high would lead to a serious sell off and a potential serious change in the underlying story. A break through would establish a strong new support level and the potential to go much higher. No idea right now which way it goes. Watch the levels and don't fight the trend.

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