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

To: Johnny Canuck who wrote (48271)	7/10/2012 10:50:09 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70690

I expect earnings season to be extremely volatile as not one has a sense of the how the economy is really going at this point. Day to day news will move the market as opposed to underlying short term technical trends. SP500 broke back below the down trend line. It is not back on a sell signal. DOW just barely broke the 50 day SMA, so the signal is neutral to till the break is confirmed. DOW transports trending down to the bottom of the sideways channel as expected. The lack of volume is puzzling though and may reflect the lack of convince of traders to go totally negative quite just yet. COMPQ back below the down trending line. COMPQ now on a sell signal. Financials cross back below the 50 day SMA. I expect the sell signal to be confirmed tomorrow. Gold selling off hard on accelerating volume. I expect gold traders are building in weak future guidance for world economies and the lack of any world political crisises for the time being. Energy gapping down on huge accelerated volume. Traders are leaving the sector. It needs to reverse strongly tomorrow to negate the sell signal. Seeing accelerated selling on the Russell 2000. A sells signal has not be generated yet though. There is not strong trending direction in natural gas.