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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 695.16+0.2%Jan 12 4:00 PM EST
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To: Davy Crockett who wrote (47850)5/1/2012 10:39:05 PM
From: Johnny Canuck  Read Replies (1) of 69703
 
Profitable Ideas Each Market Day

LAST UPDATE:05/01/12 04:43 PM ET Small caps provided another chunk of downside on Tuesday, with the Russell-2000 getting crushed in the afternoon and closing in the red. Unfortunately, this reversal flashes a major warning signal because it's taken place at the same price level as the February high. If you look at the daily chart, you'll see this raises the odds for a head and shoulders topping pattern, with support near 790.
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