Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Johnny Canuck who wrote (49097)	1/23/2013 5:09:01 AM
From: Johnny Canuck	1 Recommendation Read Replies (1) \| Respond to of 70664

SP500 set a new high on declining volume. This may be traders coming back late from the long weekend or it could indicate that traders are starting to be more skeptical about further advances in the market. Declining volume as the market advances is usually a bad sign. One day not make a trend though. We need to see accelerating volume to maintain the momentum of the current rally. DOW in the same position as the SP500. DOW transports supporting the move in the DOW. For what has traditionally been a slow moving index the advance in the DOW transports has been spectacular and unexpected. QQQ is one of the lagging indices. A lot will depend on AAPL earnings tomorrow. Again Russell 2000 setting a new high on declining volume. Financial sector also setting a new high on lower volume. Energy sector on the verge of breaking the high set last year. Gold stopping short of generating a new intermediate buy signal Natural gas one of the few stocks going in the opposite direction to the other indices. It has technically cleared the congestion zone based on volume by price at $3.40.