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Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

* If the dots don't connect, gather more dots until they do...or, just follow the $$$...

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UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Tues. Nov. 3 ~ U.S. Presidential Election
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* Wed. Dec. 16 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
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* Fri. Dec. 25 ~ U.S. Markets closed for Christmas Holiday

*** Click here for link to Economic Calendars for all upcoming events

Monday, July 16, 2012

Price Action on the Major Indices

Each candle represents 3 days on all of the charts below of the Major Indices...the current candle will close tomorrow.

You can see they're in a tight upward trending channel (which is intact for the moment), with price action swirling around the 50 sma (red) since mid-May. Resistance remains overhead from April/May. The exception to this is the Utilities Index, which is well above its 50 sma, with near-term resistance from mid-June...and one to watch for evidence of any damaging weakness entering that may spill over into the other Major Indices...otherwise, I'd expect this channel to hold.