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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 670.31-1.1%Nov 6 4:00 PM EST
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To: Johnny Canuck who wrote (52548)7/31/2016 10:20:40 PM
From: Johnny Canuck2 Recommendations  Read Replies (1) of 67712
 
The Fed made their prononcement in the middle of the week but it looks like traders are still not sure.

SP500 still in a waiting pattern.



DOW also waiting but also showing a minor negative bias.



DOW transports if you account for a margin of error essentially touched the previous high and then sold off and now have a minor negative bias.



Utilities back to a waiting pattern after the rally due to Brexit. A plus is the index is not breaking down.



COMPQ just barely achieving a new high. It needs confirmation.



Russell 2000 also waiting. Keep in mind with all these indices in waiting patterns the longer the waiting patterns go the more likely the resolution will be to the downside. Do not try to anticipate the move those as you are likely to get burned.



Agriculture now on a sell signal in all timeframes. One weak counter rally attempt so far but expect lower lows for a while as this resolves the damage done.



CORN still printing lower low but at least the momentum has slowed and the start of a bottom is forming.



Financials failed to test the previous high again. Now in a waiting pattern.



Energy still in a waiting pattern.





Gold seeing some profit taking and holding a strong support level.



Natural gas still struggling with follow through after breaking the $2.75 level again.

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