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

To: Johnny Canuck who wrote (45916)	11/2/2009 3:48:17 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70768

SPY breaking 50 day SMA significantly on above average volume: DIA just violating the 50 day SMA on above average volume: SMH violated support all the way down to the 100 day SMA. Interesting that the volume is not above normal though. OIH found support just above the 50 day SMA. The volume has been extremely heavy the last 2 weeks. GLD still in an up trend. It is not showing a strong reverse correlation to the indices. It may suggest that the street is unsure if the economy is going back into a recession. SLV violated the 50 day SMA. That will not act as resistance. It seem to have come up couples from gold. It should a lack of conviction in the overall economy and commodities. As long as the indices stay above the 50 day SMA and the 20 day SMA stays above the 50 day SMA the markets can technical still recover and maintain its up trend.