SI
SI
discoversearch

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 ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Johnny Canuck who wrote (52949)6/4/2020 3:23:26 AM
From: Johnny Canuck1 Recommendation

Recommended By
Return to Sender

  Read Replies (1) of 67767
 
Surprised that the major indices are moving in advance of the employment numbers on Friday.
Employment numbers are usually delayed by a month due to the collection process. This Friday's numbers
are the first real look at how bad the damage was in April when the shutdown really started to bite.

Indices still on a buy signal. Volumes have been light in comparison but at least it is increasing
indicating believers in the move are starting to emerge, believers or traders afraid of being left behind.

SP500 finally seeing modest acceleration in the move up. Increasing volume following the move which is what
you want to see in this kind of move. Volume is light though.



Same comment on DOW as SP50/ Only additional note as DOW is approaching a resistance level. Tomorrow and Friday will be important. How it handles this level will indicate what happend the next week or two.



DOW transports mirroring move in DOW. Also approaching a resistance level.



DOW utilities index finally resolving the divergence with the bond rates. Is it up 5 days in a row though so it will need to rest in order to consolidate the gains and allow some profit taking and for shares to move into the hands of longer term investors from traders. Statistically it make rise 2 more days but more than 7 up days in row is extremely rare.



COMPQ hitting a new high on decreasing volume. A new high given the fundamentals of the economy seems suspect but a confirmation day tomorrow will confirm the new high.

Semiconductor index not far behind COMPQ.



Russell small cap index seeing large increase in volume. Traders coming off the sidelines and looking
for lagging sectors and some sense of value.



Financials seeing a bit of interest and confirming a modest uptrend.



Energy also seeing the confirmation of a modest intermediate uptrend.



Gold in a sideways channel. The longer it stays here the more chance the resolution will be down not up but it is still too soon to say.

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News