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

To: Johnny Canuck who wrote (47305)	12/13/2011 8:50:43 PM
From: Johnny Canuck	1 Recommendation Read Replies (2) \| Respond to of 67814

SP500 generated a sell signal today. I expect a test of the 1150 and maybe the 1050 area. Sell signal triggered on DOW also. I expect a test of at least the 11,250 area and maybe the 10,500 level. The sell on the DOW is confirmed on the DOW transportation index. Sell signal triggered on the COMPQ. I expect at least a 5 percent pullback in the index. No love for the financials. They set a lower low in the context of a long term down trend. Gold resolved the symmetric triangle to the downside. It might find support here as it just finished short of the 200 day SMA which is still up trending. It is possible gold will test the 1500 level and then the 1450 level. If it test these levels then the long term up trend lines would have been violated.