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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 659.00+1.0%4:00 PM EST
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To: Johnny Canuck who wrote (51203)1/13/2015 5:01:25 AM
From: Johnny Canuck3 Recommendations

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Davy Crockett
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sense

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If you believe the first week of trading dictates the trend for the year look for a volatile year with a modest close up. The first week of trading on the major indices saw a gap down with a gap up and a modest close above the open for the year.

First series of earnings coming out this week. Look for trader to start taking longer term positions as forward guidance starts to be issued. A lot more data points need to be gathered before a defined trend emerges in specific sectors though.

So far a lot of intermediate sell signal have been triggered or on the verge of being triggered within long term up trend. Not a destruction but a potential setup as fundamental catch up with technicals.

Despite the new high as 2014 came to a close the SP500 is now setting up for an intermediate sell signal. Another down day tomorrow will confirm the sell signal. Potential head on shoulder patterns on the major indices????



Same comment on the DOW as SP500.



DOW transports on a confirmed intermediate sell signal despite lower energy costs.



COMPQ now on a confirmed intermediate sell signal.



Russell 2000 now on an intermediate sell signal.



Agriculture formed a lower low in late 2014 and now is trying to find a bottom. So far the new low is holding but new lows tend to lead to lower lows. More work needs to be done before a proper bottom is in place. This is necessary before any kind of extended rally can form.



CORN so far still diverging from the agriculture index. Short term the trend is neutral as it holds just above the 50 day SMA.



Financial now on an intermediate sell signal.



Energy still on a short, intermediate and long term sell signal. It looks like it needs to test the recent low.



Gold back to an intemediate buy signal within a long term down trend.



No natural gas chart tonight, the site seems to be down temporarily.
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