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

To: Johnny Canuck who wrote (48136)	6/25/2012 2:38:38 AM
From: Johnny Canuck	2 Recommendations Read Replies (1) \| Respond to of 68623

SP500 bounced by very weakly on light volume. The index is neither oversold nor overbought so it should revert to the short term trend which is down. The intermediate trend is still slightly up, but just barely. Same comment on the DOW. DOW transports back to the bottom of the sideways channel. COMPQ not oversold or overbought. It should follow the short term turn which is down. Intermediate and long term trend still slightly up. Short term trend down, intermediate trend and long term trend sideways. Gold testing the bottom of the range near the 52 week low. It has failed the test of the overhead resistance twice. Energy still on a sell signal. Intermedate turning slightly negative and long term still sideways but barely. I longer term trend change is underway to the negative side. Russell 2000 small cap index failed to clear overhead resistance. This is the first test of that level, but the short term direction is down. Natural gas failed to break the overhead resistance level. I would expect it to re-test the bottom of the range near the 52 week low.