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

To: robert b furman who wrote (47521)	2/18/2012 10:03:42 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70544

It looks like SI chokes on the links to the graphs from time to time. SPY moved higher on Friday confirming the break out. The tight range indicates some reluctance and an equal battle between bull and bears. So even though technically the break out is confirmed there are still a lot of disbelievers. Option expiration on Friday also effected the trading. A clearer picture of the true sentiment of traders will emerge Monday as any effect of options expiration will be removed and the lack of news in the first hours of trading means that traders will be trading without an external event to color their opinions. The light volume on Friday is a real concern. Same comment on the DOW. DOW transports back to neutral with a negative bias. The up trend is still intact on the COMPQ in the intermediate term. It is neutral short term due to the trading the last few days. We did not see follow through on the break out on Thursday Back to neutral on the financials. Gold still in an intermediate down trend. It need to break the top of the channel to generate a buy signal.