Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 683.38

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Nov 12 4:00 PM EST

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Logain Ablar

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To: Johnny Canuck who wrote (52928)	5/17/2020 4:55:11 PM
From: Johnny Canuck	2 Recommendations Read Replies (1) of 67879

Week for SP500 was a wash. back to sideways waiting pattern. DOW, DOW transports and DOW utilities index in confirmed down trends. It can reverse but it needs to do it in the first few days of next week, Russell 2000 also in start of new down trend. COMPQ holding on to intermediate up trend. Not sure what is keeping it up but old Zeev Hed saying "When the technicals do not match with the fundamentals go with the technicals". Financial and energy in confirmed down trends. Gold tried to make a new high but just could not hold on to it. It did set a closing high though. Market advance on the COMPQ and gold can not be sustained. Be careful. Stop losses will save your trading capital to fight another day.

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