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

To: Johnny Canuck who wrote (46229)	8/3/2010 2:12:02 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70475

SPY: Still no volume, but it if we get a follow through day tomorrow and clear 114, the index will rally to the previous high. DIA still leading the rally, it has already confirmed the currently rally: QQQQ need to rally above 47.5 to confirm the break out of the old trading range. Given the low volume there is not point in second guess the rally. Wait for confirmation. The long terms trend still indicates a issue down the road due to the debt to GDP of the USA, the largest consumer market, and the slowing of China. Over the next few months I would gather it will not matter as the earnings are good, industrial demand is growing, and some companies are starting to hire back employees. The issue is consumer demand is still very weak as people are still de-leveraging and I don't expect them to change that attitude till unemployment drop before 6 to 7 percent.