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

To: Johnny Canuck who wrote (54829)	1/21/2022 1:54:28 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69819

Another down day on the SP500 confirms a long term sell signal. Index is short term oversold so it could bound tomorrow negating the setup. Also 5 th day down in a row so oversold short term. Trader may not want to take positions home over the weekend so the bound maybe Monday. Same comment on DOW as SP500. Counter rally tomorrow or Monday. DOW was up 400 points at start of day only to finish down 300 point. The kind of range indicates a large gap in one direction of the other soon. DOW transports on verge but has not setup a sell signal yet. It looks like transports are lagging DOW. No new high on DOW soon. DOW utilities bounding at a support level. Too soon to tell anything about long term bond rates from this action. Confirmed sell signal on COMPQ. Watch remaining strong stocks like GOOGL and QCOM. When the break and bottom the sell intermediate term will be done. Watch for a break in the bottom of the previous channel. A new lower range mean traders are risk off and they have no interest in small caps. Financials also selling off. Looks like traders looking for value stocks want a sure thing. Poor guidance spooking some traders out of sector. Watch for break of bottom of previous sideways trouble to indicate a more serious correction. Energy seeing some profit taking. Nothing to indicate anything more than a rest yet. A true market break down would see selling in this sector also. Gold potentially starting a new uptrend. Watch break of old previous high to get more interest in sector. Crypto maybe losing some of it lustre due to lack of stability. Silver finally starting a new rally. Day 4 today Should rest in the next 2 days.