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 671.91

0.0%

Nov 14 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

Recommended by:

Davy Crockett

To: Johnny Canuck who wrote (51293)	2/3/2015 8:47:39 PM
From: Johnny Canuck	1 Recommendation Read Replies (1) of 68015

SP500 rallying off a strong support level. A symmetric triangle forming which means a potential strong move is coming but traders have no idea which direction it will take. At this point a new high is required to get traders off the sidelines and generate a new big signal. Using just the average a potential intermediate buy signal is setting up. One more up day will confirm the new intermediate buy signal. Light volume is a concern. DOW still trapped in an intermediate sideways channel. Current bounding off the bottom of the channel. The sideways channel again means traders have no idea of the next direction of the index. Potential intermediate buy signal setup but again traders will wait for a new high to be confirmed. Low volume on this rally so no conviction from traders. DOW transports bouncing off a strong support level. The series of lower highs indicate a negative bias despite the 50 day SMA pointing to a sideways trend. Intermediate sideways channel on COMPQ indicates traders have not conviction on the direction of the next move. Rally on a low volume day indicate the institutions are not participating. The market needs them for a rally on any substance. Rally today on the Russell 2000 at best indicates an intermediate sideways trend. First up date on the agriculture index in quite a while. So far just a weak counter rally. Not sure what spiked the volume today. CORN still on a sell in all timeframes despite the rally on weak volume today. POT knock on the door of a new high. Wait for confirmation. Way overbought short term. Sold up trend in place for AGU. Financials still in an intermediate down trend with a long term up trend. Energy setting up for a potential intermediate buy signal setup. One more up date will confirm it. Volume is heavy indicate institutions are participating. Gold coming back and testing the 200 SMA. So far it is holding what is a long term sideways trend with a slight negative bias. Weak counter rally on natural gas.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next