Stock Chart Pattern Puts Bulls In Hospital
My buddy and stock forecaster with Market Club, Adam, is going to share with you his technical analysis of the S&P 500 stock chart.
You previously saw my interpretation of the S&P 500 stock chart and prediction for July therefore why am I showing you an additional technical analysis video on the S&P 500 stock chart?
I'm of the belief that you can not see enough technical analysis videos. Everybody has their individual technique and approach when evaluating charts of stocks and so try and look at as many stock chart analysis vids as you can. One analyst could concentrate on something that a different technical analyst just briefly mentions.
Take notes of the popular threads or main points you see and hear mentioned in various market analysis vids. You will see that when 2 or 3 unique market analysts talk about the similar thing in a stock chart, it's a good idea for you to keep your eye on that precise pattern or price level.
Provided you are a stock analyst yourself, and I wish you are as my goal is to instruct you as much as I can on how to become one, then studying technical analysis videos from separate market analysts will facilitate you in your own trading and in creating your unique content for your blog, video, or just to speak about with family and friends.
In this episode, Adam takes a quick look at the S&P 500. He plots three moving average lines: the 50, 100, and 200. Adam did this video on June 30th and he talks about the Burial Cross that all technicians are keeping their eyes on: the 50 day moving average breaking below the 200 day moving average. As this video was made on June 30th, we have had a Burial Cross since which means now is a terrific moment to short this market.
The Trade Triangle grade on the S&P 500 is -90 which therefore implies a strong downtrend.
Provided we do a Fibonacci Retracement of the bull run that began in March of 2009, then a 38.2% retracement is at 1011, a 50% retracement is at 947, and a 61.8% retracement is at 883. Those are our three support marks on the way down. Adam's feeling is that we are headed to the 50% to 61.8% retracement area between 947 and 883. If Adam is correct, we stand to make a lot of money on the short side. Bear in mind also that 70% of all Fibonacci Retracements go down between a 50% and 61.8% retracement area.
Article Source: FxTradingStock.com
About the Author
To watch the video talked about above go to Mind Blowing Stock Chart Pattern
by: Mike Brown
Total views: 32
Word Count: 421
Date: Fri, 16 Jul 2010
Publish/Share this article
To use this article on your site click here to get the HTML code
Rating: Not yet rated
Login to vote
Related Articles
How to Invest in 2011 and Beyond Without a ClueWhat Is Forex Trading?
Quick Way To Trade In Shares
ATM Calendar Spreads, Are You Aware Of The Hidden Gotchas?
Emini Day Trading Requirements
The Coming Death Of The Dollar
Fantastic Fundraising Suggestions
Winning Big In The Share Market
