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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 691.88-0.3%Jan 30 4:00 PM EST
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To: Johnny Canuck who wrote (46773)6/10/2011 1:17:11 AM
From: Johnny Canuck  Read Replies (1) of 70282
 
Trend following system sell signal confided on the SP500 today. I expect a move down to 1250 at least. The volume today was lower than in the previous sell off days. The SPY need to move above the50 day SMA in the next 5 sessions to negate the signal.



QQQ sell signal confirmed 4 trading session ago. I expect a bounce at the $54 level. Again a revesal above the 50 day moving averge is required in the next few sessions to reverse the sell signal.



Sell signal on DOW confirmed today. I would expect a move down to 11500.



Continual of the sell signal on the financial trigger at the end of March. I expect a bounce at the $14.25 level. This and the $13 level are strong support levels. A break of these level would indicate serious and long term damage to the sector.

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