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 690.40-0.5%Jan 14 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Johnny Canuck who wrote (59543)7/31/2024 9:37:04 PM
From: Johnny Canuck1 Recommendation

Recommended By
E_K_S

  Read Replies (1) of 69762
 
Fed confirming potential easing stance with dovish language and more decent tech earnings rallying the market.

SP500 rallying off the 50 day EMA on above average volume. Potential intermediate sell signal avoid. Two resistance level to achieve a new high. Too soon to tell if this will be the case.



DOW looking like it will test the 52 week high soon. The volume is huge so believers entering the market.



DOW transports still lagging. Potential new high on the DOW would still be suspect.



DOW utilities at 52 week high. More traders believing long bond rates will be lower.



TLT breaking out of its range also indicating long bond rates are expected to be lower.



COMPQ closing just above the 50 day EMA negative the intermediate sell signal. Volume is heavy but not extreme. There are more believers the selling is overy but not everyone is committing yet.



USD gapping down on expected lower bond rates but still in the trading range for now. A stable dollar is what is needed.



Russell 2000 tried to break out but finished back below the 52 week high. I expect this sector to lead the market. If it breaks higher it means traders still have an appetite for risk so the other sectors will follow it higher. Stronger above average volume means the institutions are interested.



Financial still trying to set a new 52 week high.



Energy breaking above the 95 level will get traders interested in energy again.



Gold looking to test the 52 week high again after some profit taking. Keep in mind gold is a risk trade taken if fiat currencies are volatile or deflation is an issue. Neither of these are good for the markets or economy.



Consumer discretionary doing a lot of repair the damage of the sell off of last week. 50 percent retracement of the sell off so far. Potential down again before attempting get back to the previous levels again.

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

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News