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

To: Johnny Canuck who wrote (47504)	2/14/2012 4:20:42 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70330

Gap open on the SP500 in reaction to a potential Greek bail out. This affected all the indices. The fact that the trading range did not clear the recent high of last week is a concern. The trading volume was below the sell off volume on Friday so there is no wide spread conviction that the Greek problem is over and done with. On the positive side the trading finished in the upper part of the range. It needs to clear the recent high from last week soon or the lack of economic news will cause the index to fall under it own weight. Same comment on the DOW. Same comment on DOW transports. The lack of a new high on the DOW transports is still a concern. COMPQ did clear the high from last week. It is now leading the other indices. The volume was below average though so there is some concern about the conviction of traders. Financials are actual weaker than the other indices. It closed towards the bottom of the daily trading range. Indeterminate signal on gold.