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

To: Johnny Canuck who wrote (53390)	11/18/2020 1:11:04 AM
From: Johnny Canuck	2 Recommendations Recommended By dealmakr Return to Sender Respond to of 68115

SP500 back to just above the break out point of the previous high from September. So far just profit taking. What happens next is more important. A break below the previous high would lead to more selling. DOW pulling back but stayin above the March high. Watch that level and the previous high from September that is just slightly below the level. A break means the new high has not held. DOW transports building on the new high. If it contunues higher then the DOW should catch up. DOW Utilities stalling but still above the top of the previous sideways channel. For now stability is a good thing. COMPQ still going sideways. Russsell 2000 approaching the previous high from March. A new high would get more traders into this sector. Note the decelarating volume though so some normal weakness appearing. Financials stalling a bit short term. Looking like it is waiting for something. Energy building on the advance. New up trend continuing. Gold still sideways but a bit of negative bias seeping in. Silver also sideways.