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

To: Johnny Canuck who wrote (47511)	2/15/2012 8:56:48 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70391

Sp500 still has not broken out of the trading range of the last 10 days. The signal is still neutral at this point, but it looks tired. Same comment on the DOW. I don't like the fact it tried to break through to a new high on the day, only to finish significant lower and accelerated volume. DOW transports not on a sell signal. I don't expect the DOW to reach a new high and trading range without the transports. Time to take profits of one economy stocks. Uptrend still intact of the COMPQ. It might still have a ways to run, but the DOW and DOW transports have to start looking better over the next few weeks as the COMPQ can't do it all on its own. Financials filling the gap. The next 3 trading session will tell if this rolls over into a sell or re-bounds. With transports rolling over a downside resolution is favoured, but don't anticipate. Wait for the confirmation. Gold seeing a mini-series of lower lows. The bias is still negative, but not extremely so. Traders should be flat right now.