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

To: Johnny Canuck who wrote (49133)	1/30/2013 7:50:12 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70343

Quick commentary tonight. SP500 advance on average volume. SP500 look to be losing momentum, but still has a positive bias. DOW advance but at slight below average volume. The rally feels tired. DOW transports consolidating after its massive run. It needs a consolidation to even have a chance at advancing further. No change on the COMPQ. It is still in a consolidation pattern. Traders can't decide which direction to take the COMPQ. Russell 200o advancing but the average volume means less traders are interested in entering new positions. Finanicals struggle to set higher highs, but not breaking down either. Currently the up trend remains intact. Energy gapping up on above average volume. Most of the move may be due to the change in management announcement at CHK. Again sticking with the big caps in this sector may be the theme. I don't think rising tides will lift all boats in this sector this time around. Gold having a dead cat bounce off support. The more times we test this support level, the great the chance of a break of that level. Natural gas still on a sell signal.