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

To: Johnny Canuck who wrote (47449)	1/31/2012 1:07:15 PM
From: Cogito Ergo Sum	Read Replies (1) \| Respond to of 70312

To: Maurice Winn who wrote ( 86605)1/29/2012 8:17:15 PM From: 2MAR$ 1 Recommendation Read Replies (2) of 86701 Here's a fellow with little follow up on the Baltic Dry Index volitility to try & keep in perspective , alot of people were getting alarmed by that weds report so a little more input context The TRUTH About The Massive Plunge In The Baltic Dry Index businessinsider.com

To: Johnny Canuck who wrote (47449)	2/1/2012 8:08:51 AM
From: Johnny Canuck	Respond to of 70312

Surprisingly the SP500 is still not on a sell signal. The longer it tracks in this consolidation pattern, the more likely it is to resolve in the down side direction. The market appears to waiting for news to move it higher or to sell off. The resolution of the Greek issues soon might be the catalyst to more the index higher short term. Longer term we are overbought and need to let off some steam in order to move higher for any sustained move . A 5 percent correction has already been talked about on some of the business shows. Some comment for the DOW. Dow Transports confirming the move in the DOW and trying to play a little catch up. COMPQ looks like it wants to go higher but is seeing selling resistance every time it tries to break the recent high from last week. This is typical and health consolidation pattern. I still don't like the sector, but we have a golden cross on the financials. A golden cross is the the 50 and 200 day SMA cross. It indicates a potential trend change. A flat 200 SMA would be more preferred, as the 200 SMA is sitll down sloping. It partial means that the group has not had enough time to consolidate and establish a new range. Again I would still stay away for this sector. There are better sectors to look at. Gold hitting up against a resistance level. It needs news to move it higher. The wedding season is still a few months off for buying in Asian countries and inflation is still tame right now.