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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 562.73+2.1%Mar 14 4:00 PM EDT
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To: Johnny Canuck who wrote (62521)2/19/2025 3:35:30 AM
From: Johnny Canuck1 Recommendation

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Index Update February 18 2025

SP500 spent most the second half of the day on the defensive but managed to finish up to a new 52 week high. The key is whether there is a follow through day tomorrow with increase volume.



DOW still lagging the SP500 but it has managed to stay close to the 52 week high so it may follow the SP500 up if the move in the SP500 is confirmed and sustain. Note that the SP500 could also see off because as note most hedge funds are at record lows in cash.



Dow transports still playing catch up. It is on the verge of breaking one of the last two remaining resistance levels before the 52 week high. This current level is more significant than the minor one above it.



DOW utilities short term trend is up and intermediate trend is still down. Traders are having problems figuring out the direction of long bonds temporarily.



TLT still say long bond rates are head up over the next few weeks and maybe months.



USD bouncing near a major 106 support zone. Watch to see if is a dead cat bounce.



COMPQ also setting a new 52 week high. Watch to see if confirms tomorrow.



Semiconductor still in the mid-range of the sideways channel of the last few months.



Financials near the 52 week high. Watch to see if it also sets a 52 week high to confirm the SP500 and COMPQ new highs.



Energy still moving to test the top of the long term sideways channel. It has a little more ways to run before resistance.



Gold still managing to set a new 52 week high. The momentum is start if slow down though.



Consumer discretionary still on the defensive. It is on a short and intermediate sell signal still.



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