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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 684.83

+0.6%

Dec 22 4:00 PM EST

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To: Johnny Canuck who wrote (53510)	12/20/2020 12:44:57 AM
From: Johnny Canuck	Read Replies (2) of 69180

No follow through on new high on SP500. Lack of pandemic stimulus package and the fact we are a few days before X-mas has traders taking profits and going flat. Same comment of DOW as SP500. DOW transports entering sideways channel. DOW utilities managing to hold the top of the previous intermediate sideways channel. COMPQ mirroring DOW and SP500. Russell 2000 entering short term sideways pattern but the intermediate up trend remains intac. Financials entering sideways pattern. Energy also enterting sideways pattern. Gold still on intermediate sell signal. No confrimation of breakout of intemediate sideways trend.

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