Technical analysis for shorts & longs Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Technical analysis for shorts & longs

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Johnny Canuck who wrote (51248)	1/25/2015 6:39:41 AM
From: Johnny Canuck	Read Replies (1) of 67759

Got the pause in the counter rally we expected on the SP500. If it was not earnings season we would normally expect 3 down days in a row now, but earnings season and the associate forward guidance can change the mood of traders on a dime. Sames comment on DOW as SP500. DOW transports confirming a lower high on this counter rally. Despite the counter rally the mood of traders remain cautious. COMPQ showing a little more positive bias as it is on day 5 of its counter rally. Note that the intermediate trading range is still in place. It means that despite the positive earnings of individual companies traders are still not sure of the next direction on the tech sector Russell 2000 failing to confirm the intermediate buy signal set up. Agriculture forming a lower low on increased volume is a negative sign. Continue to avoid this sector. CORN still on an intemediate sell signal though short term is trying to form a narrow trading range indicating indecision on the part of traders short term. Financial stalling after a weak counter rally. Intermediate sell signal is still in place. Despite the low of December holding for now the energy sector remains on a short, intermediate and long term sell signal.It needs to clear the 80 level to confirm a double bottom and a potential rally above the 200 moving average. Gold finally pulling back to resolve and over bought condition. 1300 will be a psychological resistance level as it acted as support for a long time. New low in natural gas holding for now.For now winter demand is putting a bottom in place. Shoulder season is about 2 months away at which time natural gas prices will see weakness as the warmer spring whether reduces the demand for gas for heating and air conditioning is not quite required yet.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next