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

To: Johnny Canuck who wrote (48280)	7/12/2012 4:08:59 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70763

Short on time tonight so no graphs. Check out finviz.com if you need to see them, SP500 stalled at the 50 day SMA and virtually at the close of yesterday. It looks like traders of the sp500 are waiting for something. DOW broke the 50 day sma and continued the down trend. It is the weakest of the indices. I expect it to counter rally in the next 2 days. DOW transports continuing trip to the bottom of the channel. I expect a counter rally in the next 2 days. COMPQ about to break the longer term up trend line. Short term it my counter rally in the next 2 day meaning the break might not be confirmed this time. Financials finding support at the 50 day sma. It was one of the few indices positive on the day. Gold bounced today,but still in a longer term down trend. Energy filled the gap from yesterday. It is still in a long term down trend. Russell 2000 a very confusing chart. Short term down. Intermediate term undetermined. Long term still positive but transitioning to neutral or negative? Still short term negative bias on gas.