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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 680.59

+0.6%

Dec 19 4:00 PM EST

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To: Johnny Canuck who wrote (59201)	5/13/2024 2:06:28 AM
From: Johnny Canuck	Read Replies (1) of 69161

Natural gas signaling a long term trend change. Expect some strong resistance at 2.50. The start of cooling season and the hype over electricity demand for AI might be driving the trend. Copper still powering to a 52 week high. Given that recession hits about 6 to 9 months after the first rate easing, the weakening of employment and housing start weaker this is a contradicatory signal. Timber still in an uptrend but more violatile, indicating a lack of confidence in a strong housing market for new construction. Platinum approaching top of sideways channel that has existed for most of the year. Energy is short term downtrend but holding on to the intermediate and long term uptrends. We said gold needed a new high to re-establish the short turn buy signal. Intermediate and long term trend is still up. Silver following trend in gold.

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