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

To: Johnny Canuck who wrote (48696)	11/4/2012 11:44:10 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69853

We talked about traders being focused on short term news in advance of the US election and that was confirmed on Friday when the indices failed to hold on to the gains on Thursday. Friday had the indices essentially back to the close on Wednesday. I don't expect trading to fall back into a pattern till the election results are known. The series of lower highs on the DOW transports is a real concern. Same pattern as SP500 and DOW on the COMPQ. p Financials still on a sell signal despite an attempt to negate the pattern intra-day. Energy sector actually acting weaker than the other sectors as the range was wider than the other indices. Gold failing the counter rally and potential establishing a new down trend. A brek of $3.40 would generate a sell signal on Natural gas. Keep in mind not to read much into any move till after the election is over.