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

To: Johnny Canuck who wrote (51205)	1/14/2015 2:15:00 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 68173

It is the earnings stupid as we enter earnings season. Expect lots of volatility till defined forward guidance trends start to emerge. Intermediate sell signal on SP500 barely confirmed on above average volume. It looks like traders are moving to the sidelines till they see more guidance as companies report. Despite an early morning rally on AA good earnings the market sold off going into the close. Same comment on the DOW as SP500. DOW transports still on an intermediate sell signal and not testing the first strong support level. That level held for now. Russell 2000 did not confirm the intermediate sell signal despite all the volatility. Signal is neutral for now with a slight negative bias. Agriculture setting a lower low. Stay away to a defined bottom is formed. CORN setting up for an intermediate sell signal on accelerating an heavy volume. Diverge between CORN and DBA resolving to the down side???? Financials intermediate sell signal confirmed. Interestingly as oil set a new low today the Oil index did not set a new low though it looks like it will test the recent low. Gold rallying in light of market volatility. It is about to test a strong resistance level. A move about that level will establish a new trading range. No idea if it will confirm that new trading range though as the volume has been only slightly above average. Natural gas gapping down the last few weeks and now below the psychological $3.00 level. It is trying to establish a bottom but it is too early to call a bottom.

To: Johnny Canuck who wrote (51205)	1/14/2015 6:34:38 AM
From: Logain Ablar	Read Replies (1) \| Respond to of 68173

HI JC: Yes, but the pain has just started in the sector (6 months in). We don't see a V bottom until the excess supply is soaked up. Russia can't stop pumping, SA won't stop pumping, VZ can't stop pumping (although their production decreases with mis management). In the U.S. we have to wait for the imbalances to play out. Canada is similar to U.S. Did you see SU's cut announcement yesterday? The long term support technically should be $40 (the old 1981 high) but this didn't hold up on the last oil sell off.