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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 665.67-0.9%Nov 17 4:00 PM EST
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To: Johnny Canuck who wrote (59862)9/4/2024 12:45:55 AM
From: Johnny Canuck1 Recommendation

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Index update part 2.

IWM also selling off hard thought not as bad as COMPQ.



Little minor profit taking on financial but the uptrend remains intact. Again not the sign of a bad economy.



Energy still trading within the sideways channel.



Gold seeing some profit taking so the funds did not flow in the precious metals.



Consumer discretionaries also seeing some weakness but not sell signal setups yet.



So far it is just selective profit taking and in areas that were the high flyers for most of this year. It will be interesting to see if the money went in to utilities, health care and consumer product people need to buy, essential stocks that do well in a recession.
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