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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Return to Sender who wrote (43362)	5/30/2006 3:23:04 PM
From: Johnny Canuck	Read Replies (4) \| Respond to of 67790

Based on the charts you have posted, all sectors have a neutral rating according to the BP readings. Financials, energy, oil, material and transports are still trending upward indicating there is still strength and leadership in the market. Interestly, the transport are trading at it highs. This is usauly quite bullish for the market, especially in light of the higher energy cost. If the DOW components can reverse up to new high, traditionally this would be a DOW theory buy signal for the broader market. Given the current commodities driven aspect to the economy I would tend to put more weight on the old economy based Dow theory buy signal right now. We will have to see. It is a long summer and it may be exciting.