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

To: Johnny Canuck who wrote (46240)	8/18/2010 3:04:46 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70432

SPY now below the 200 SMA again. The break down below the 200 day SMA and then the 50 day SMA indicates how tight the range is right now, but also how nervous traders are right now. Long terms traders should now be out of all long positions and waiting for direction for after labour day. Potential double top in place who indicate a visit back to the recent low. A little more positive on the DIA, but the volitaility indicates a lack of conviction. QQQQ technically in a down trend now.