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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 670.92+0.1%4:00 PM EST
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To: Johnny Canuck who wrote (51250)1/27/2015 1:24:45 AM
From: Johnny Canuck  Read Replies (1) of 67737
 
Intermediate sideways channel still in place on SP500. Failure of a follow through on the intermediate buy signal on the cross of the 50 day SMA is an indication that traders are getting more cautious. Again wait for a new high before going long given the wide intermediate channel.



Same comment on the DOW.



Same situation on the DOW transports also indicating that the market is focused on macro events right now as opposed to sector related issues.



COMPQ also following the trend of the other 3 sectors.



Russell 2000 trying to setup and confirm an new intermediate buy signal but it is struggling. A new high is necessary to trigger a buy signal that will interest more traders at this point.



Still no bottom in place on agriculture index.



Intermediate sell signal on CORN just barely holding on. Short term trend is sideways.



Financials still technically on an intermediate sell signal for now. It is looking like short term there is a positive bias in place.



Energy still on an intermediate and long term sell signal. Short term new buy signal setup in place.



Gold still on a buy signal on all time frames. One more down day before a return to the up trend would confirm the positive bias in the sector.



Bottom of the range still holding for now. Tight range today indicates short term indecision.

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