Strategies & Market Trends : Technical analysis for shorts & longs
SPY 285.06+0.4%Aug 17 7:59 PM EDTNews

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To: Johnny Canuck who wrote (52753)10/2/2017 2:00:05 AM
From: Johnny Canuck2 Recommendations

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The Ox

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A little cautious a few weeks ago when the SP500 and DOW hit new highs and the transports and Russell 2000 lagged, but it looks like traders are optimistic about earning season.

SP500 hitting new high after consolidating recent gains on extreme above normal volume. If it holds into Monday it should run for a few days at least if now weeks.

DOW not as strong as the SP500. May just be some rotation.

DOW transports confirming the recent new high on DOW.

COMPQ looks stuck in neutral for now.

Russelll 2000 indicates traders have an appetite for risk in small caps. The declining volume indicates it could see some consolidation before the next major move.

Sell signal in medium term bonds.

Corn in early stages of bottoming? Too early to tell.

Financial following the rally in major industrial indices but no volume. It looks like traders are not convinced.

Not much volume but energy has broken an intermediate down trend and about to test the long term sideways trend and it is not shoulder season right now. North Korean nervousness might be driving the price of oil short term as countries stock up. Not sure short term effect breaks long term trend line convincingly.

Consider all the saber rattling I am surprised gold is not up. Intermediate sell signal on gold right now.

Natural gas above the psychological $3 mark but no follow through. Shoulder season not over till US Thanksgiving.

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