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

To: Johnny Canuck who wrote (47506)	2/15/2012 3:58:45 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70350

Back to neutral on the SP500. The index can track sideways for a long time but the long it goes sideways the more the probably tips to a downside resolution to the pattern. Same comment on the DOW. Almost tipped back into a sell signal on the DOW transports intra-day. It is still neutral on a closing basis. It is a reminder to take the closing signal when the DOW is not confirming. COMPQ continuing to power higher on accelerating volume. It looks like tech is the only index providing leadership right now. As long as one of the indices is showing leadship there is sector rotation going on and the market as a whole has a chance to move higher. When the music stops we should see a sell off. Most stocks have had a great run so far. Some are up 20 to 30 % since the end of December. Y-Y though we are flat to the start of 2011. It is a good reminder that you can make money if you are patient and trade the movements each year. Financials will trigger a sell signal tomorrow if it confirms be closing down below the close of today. A little of a mini-consolidation pattern on gold. It has technically fallen back into the down trending channel, but it could take another run at breaking the down trend channel or collapse back further in the channel. A break to the downside will find support at 1625 and then 1550.