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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 671.91

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Nov 14 4:00 PM EST

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To: Johnny Canuck who wrote (49193)	2/6/2013 9:53:17 PM
From: Johnny Canuck	1 Recommendation Read Replies (1) of 67997

SP500 still in the short term sideways consolidation pattern. They volume was still heavy today so traders want to push it higher, but is being met by an equal number of selling so it can't make a new high. DOW also still in a sideways pattern, but the volume dried up which is a negative sign. DOW transports still in that ascending triangle formation, but the volume has dropped to below average which is a negative. COMPQ still going no where. Russell 2000 also trying to set a new high but failing on below average volume. Financials also failing to make a new high on below average volume. Energy one of the indices with above average volume, but it failed to set a new high so it is essentially churning sideways as sellers equal buyer. On the plus there is still lot of interest in the sector. Gold still on an intermediate sell signal. If natural gas has a follow through day tomorrow it will have generated an intermediate buy signal.

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