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

To: Johnny Canuck who wrote (49002)	1/9/2013 8:27:43 PM
From: Johnny Canuck	1 Recommendation Read Replies (1) \| Respond to of 70598

SP500 essentially holding its breath while more earnings come in so they can figure out what the direction is over the next few months. If that index trades sideways too long it will fall under it own weight though. Same comment on the DOW. Interestingly the DOW transports is one of the few indices that was able to continue it up trend. Keep in mind transportation stocks only go up with there is something to move, so more people and products need to get some place in order for this index to continue to go up. COMPQ has a slight negative bias as it consolidates the gap up move from last week. Russell 2000 consolidating as expected after the big move up. This is healthy and necessary for an extended next leg up. It is not guarantee of a next leg up though. Financials consolidating near the high on the index. It looks like it wants to go higher. Energy sector technically consolidating in a short term up trend. The intermediate and long terms still looks sideways. There is nothing to get excited about either short or long at this point. Gold still on a sell signal. Wait for an entry long or short. Natural gas still on a short and intermediate sell signal. Interesting the long term trend is still up. No point of entering on the long side yet though. If aggressive short any bounce.