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

To: Johnny Canuck who wrote (59202)	5/13/2024 2:17:42 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69161

New week is critical with PPI and core CPI early in the week. SP500 on verge of setting new high and therefore a new short term and intermediate term buy signal. A failure has just as important consequence as there may be strong profit taking. Same comment on DOW as SP500. DOW transport still on short term sell signal. Neutral intermediate signal and long term signal. The transports would have to catch up the the DOW with a new high to confirm the DOW buy signal of a new high. DOW utilities at 52 week high. Signal long bond rates should be lower according to long term traders. TLT supporting move in the utilities but not as strongly trendwise. Short term traders are cautious but supportive of lower long bond rates. COMPQ following the DOW and SP500 but not the trend is more mute than those other indices. It would indicate traders are seeing value on other sectors for a rally. Russell 2000 lagging the major indices but at least moving in the right direction. Financials follow major indictes, no verge of new high and new buy signal. Consumer discretionary moving averages starting to converge. The trend is just neutral for now.