Technical analysis for shorts & longs Message Board

STOCKTALK

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 690.27

0.0%

Dec 26 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Johnny Canuck who wrote (57522)	11/16/2023 5:43:36 AM
From: Johnny Canuck	Read Replies (1) of 69260

Time to start watching the yield curve along with the long bond, TLT chart. We are on the verge of a uninverting. 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity (T10Y2Y) \| FRED \| St. Louis Fed (stlouisfed.org) Remember this Friday is the monthly option expiration. I expect a lot of traders have been caught on the wrong side of the trade. Expect some high volatility Thursday and Friday. SP500 is at the resistance level just below the 52 week high from last November. Watch to see how shallow and brief any profit taking is to see if the next move is the the 52 week high. DOW at the resistance level that is 2 levels below the 52 week high from last November. Watch to see the degree of profit taking. If the move the 52 week high is to continue it will be brief and shallow. DOW transports lagging DOW but moving in the right direction to support the move in the DOW. DOW utilities also indicating some double creeping in a interest rate pause, though just minor at this point. Long bond indicating some weakness despite the rally. Expect some short term violatility. COMPQ closing on 52 week high from last November just before the massive sell off. It has been leading the markets higher. Russell 2000 lagging the result of the major indices for now but moving in the right direction. If you are looking to plays to play catch up it is probably this sector. Financials supporting the overall move in the market. Moving in the direction of the 52 week high with a few closely spaced resistance levels below the high. Energy just above 200 days MA with is indicating a sideways trend. It is at a support region indicating a rally is likely as we head into heating season. Gold on verge of starting another short term uptrend after some profit taking.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next