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

To: Johnny Canuck who wrote (49125)	1/27/2013 9:21:09 PM
From: Johnny Canuck	1 Recommendation Read Replies (1) \| Respond to of 70432

SP500 moved to a new high on good but not overwhelming volume. It looks like traders are getting more cautious and are not willing to take positions home over the weekend. DOW setting a new high on significantly reduced volume. DOW transports managed to set a new high but again in reduced volume. COMPQ consolidating sideways. Earnings are not providing the catalyst to move higher right now as the forward guidance has been mixed. Russell 2000 set a new high, but failed to hold the high of the range. Financials setting a new high on decreased volume. Energy sector has not broken out, but only on average volume. It needs a confirmation day on Monday. Gold is back on a sell signal. A break of the 1640 support level would trigger accelerated selling. Are traders leaving gold for the better returns of stocks? Indecision day just above the volume by price support level at $3.40.