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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 685.33

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Jan 21 4:00 PM EST

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To: Johnny Canuck who wrote (59579)	8/4/2024 2:13:03 PM
From: Johnny Canuck	Read Replies (1) of 69928

Commodity Update Natural gas in a short and intermediate downtrend. It looks like the $1.75 zone is the bottom. Over supply and weaker demand due to muted consumer demand???? Copper also in short and intermediate downtrend. Despite all the stories about a shortage in supply the next few years, slowing economies worldwide make be setting the trend. Timber is in a short, intermediate and long term sideways trend. If we were in a strong recession this should be in a strong down trend also. Platinum in a short and intermediate downward trend. Energy sideways in all timeframes. The break of the 88 support level on Friday is a concern though. Watch if there is a follow through day on Monday to suggest there will be more downside. Gold still trying to set a new high through the trend is slowing going neutral in the short and intermediate term. Silver short term and intermediate term negative. There is a divergence between silver and gold. Which is the lead indicator???

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