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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 662.72+0.4%Nov 19 4:00 PM EST
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To: Johnny Canuck who wrote (53378)11/16/2020 4:04:44 AM
From: Johnny Canuck1 Recommendation  Read Replies (1) of 68130
 
SP500 failed to set a new high a few days ago. On the plus side the trading has remained in a narrow range just below the high from September. For now neutral as traders seems unsure this index is going high. Wait
for a confirmed new high before getting long.



Technically a cofirmed new high on the DOW a few days ago but no follow through. Another index waiting for something. On the plus side the trading has remained above the high from September which gives it a slight positive bias.



DOW transports now confirming the new high on the DOW yet. A confirmation is need to validate a new high on the DOW. Given the sideways action on the DOW it may not happen soon. There can be a delay often.



DOW utilities broke the trading range a few days ago but like the major indices it appears to be wating for something.



COMPQ has not set a new high but despite the volatiity the direction is sideways short term.



Russell 2000 also confirming a breakout and then going sideways.



Financals also confirming break out and then going sideways.



Down trend in energy broken but it also then went sideways. Macro trends definitely in place.



Gold short term sideways with a slight negative trend.



Silver also sideways.

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