Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 694.04

+0.7%

Jan 9 4:00 PM EST

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To: Johnny Canuck who wrote (47763)	4/18/2012 8:07:41 PM
From: Johnny Canuck	1 Recommendation Read Replies (3) of 69665

Sp500 in no man's land. The intermediate terms is technical still up. If it can clear the recent 52 week high it would signal a new up trend. A break below this level would trigger a sell signal. It looks like traders can't make up their mind if it is up or down. Sell signal on DOW negated. It has to clear the recent highs to generate a new buy signal. DOW transports in a consolidation pattern. If it clears the high it will generate a new buy signal. It needs to set a new high to confirm any new high on the DOW if and when it gets there. COMPQ stopped short of a sell signal. It need to clear the recent high to generate a buy signal. Financial stopped short of a sell signal. Amazingly it is still in an intermediate up trend. Gold is still volatile, but if it stays in this range for a little longer it will technically be entering a consolidation pattern as opposed the downward channel that it was in. Energy still on a sell signal. Natgas having a consolidation day. I expect it to set a lower low sometime in the future without some significant news.

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