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

To: Johnny Canuck who wrote (47748)	4/16/2012 3:25:26 PM
From: Johnny Canuck	Respond to of 69822

aapl and goog definitely hurt the COMPQ. It will generate a sell signal today/tomorrow if it crosses the 50 day SMA. Not quite the same amount of damage on the SP500. It looks like the index has held the 50 day SMA level the last few days of trading. It looks like traders can't make up their mind if the market should go up or down. DOW struggling to negate its sell signal but not quite making it. Keep in mind I tend to view technical analysis more as a handicapping system. In gambling the house has a 1 or 2 percent edge over the gambler. The house and the gambler don't consistent win, but the slight edge means the house has a better chance of consistently making money. Black jack and poker are the only two games where the player has a slight edge. If you card count and use one of the various system you raise you odds of winning. I view technical analysis that way and use it as a way to react to specific situations. Some people put a lot more weight in its predictive power. I view it as a reactive system as opposed to a pro-active system.

To: Johnny Canuck who wrote (47748)	4/16/2012 4:52:31 PM
From: Davy Crockett	Respond to of 69822

Hi Johnny, I play this TYP or this When I have nothing else to do I just play the 3x Direxion bull/bear ETF's back & forth...

To: Johnny Canuck who wrote (47748)	4/17/2012 2:49:43 AM
From: Johnny Canuck	Read Replies (2) \| Respond to of 69822

SP500 consolidating around the 50 day SMA the last few days. It appears to be waiting for something. A break to downside on a closing basis outside this consolidation range is a sell signal. DOW already on a sell signal. It is currently counter rallying and trying to break above the 50 day SMA. Dow transports have technical triggered a sell signal, but it is also in a sideways consolidation pattern. COMPQ stopping just short of a sell signal. Gold still on a sell signal. Surprisingly the finanicals are still in an intermediate up trend. Energy sector still on a sell signal.