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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 660.08

-0.8%

Nov 18 4:00 PM EST

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Davy Crockett

To: Johnny Canuck who wrote (51216)	1/17/2015 2:06:09 AM
From: Johnny Canuck	1 Recommendation of 68115

SP500 counter rallying after 5 down days. Intermediate sell signal still in place. Interesting a sideways channel is forming. Same comment on DOW as SP500. Same comment on DOW transport as SP500 except that the sideways channel is now broken. The DOW transports are weaker that than the other indices. No idea if it is leading the other indices at this point. If so more weakness is ahead. \ COMPQ as exhibiting the same trend as SP500. Russell 2000 on an intermediate sell signal and signalling further weakness ahead despite the counter rally that started today. Agriculuture index showing lower lows despite an attempt to close up today. Stay away for now. Divergence of CORN with DBA closing as CORN Is now on an intermediate sell signal. Weak counter rally after 5 down day on the financial index. Intermediate sell signal still in place. Weak counter rally in energy sector after 5 down days in a row. So far the low of December is holding. Gold confirming new trading range. It also cross the 200 day SMA today signaling a long term trend change. Gold on an intermediate buy signal and it will confirm a long term buy signal if it has one more up day. Natural gas still on an interemediate and long term sell signal. The counter rally is not holding. The $3 psychological support level is holding for now.

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