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

To: Johnny Canuck who wrote (47781)	4/23/2012 4:01:35 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69886

SP500 still holding the consolidation pattern. Traders are waiting for some news. On the plus side there is a slight positive bias. DOW setting up for a sell signal or entering a consolidation pattern? If it can close up on Monday or Tuesday it will negate a potential sell signal. DOW transports now in a consolidation pattern. Traders are neutral on this sector. COMPQ bouncing at the 50 day SMA. This is just short of a sell signal. Wait the index to confirm the sell before taking any action. Financial still in an intermediate up trend, but short term it is consolidating as traders figure out what the next direction is. If gold stays with this current channel it will establish an intermediate term consolidation pattern with a wide range. Oil on a sell signal. A 10% move up from the current level would be required to negate the sell signal. Small cap index on a sell signal. A 3 percent move to the upside would negate the sell signal. Natural gas still in a strong down trend.