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

To: Johnny Canuck who wrote (60364)	10/11/2024 4:05:08 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 67926

Index Update CPI came in hotter than expected. The market is adjusting the reality that that inflation might not be dead and that the rate cut may have been too much and too soon. SP500 did not confirm the new 52 week high from yesterday. This leaves the index vulnerable to moving back below the 52 week high and getting back into the consolidation range. DOW also not confirming the new 52 week high. DOW transports continuing to play catch up and move with some upward momentum. Will the transports finally confirm the new high in the DOW? DOW utilities confirmed a short term sell signal. It looks like higher interest rates are being priced in. TLT still selling off. Still higher interest rates being priced in on the long bonds. USD still moving up but losing momentum as it bumps into a resistance zone. COMPQ bumping against a resistance zone. Semiconductors following the COMQ. Russell 2000 testing support. It is seeing some profit taking but is so far not breaking down. Financials also not confirming the new high. Energy sector making another attempt to break the range after some necessary profit taking. Gold setting up a short term sell signal. Consumer discretionary avoided a short term sell signal but is not fading the bounce. The market is at a critical turning point. What happens next will determine the direction for the next few weeks. XXXXXXXXXXXXXXXX