Easy Finance

My friend and stock market analyst with Market Club, Adam, will share with you his reading of the S&P 500 chart.

You already saw my reading of the S&P 500 stock chart and best guess for July therefore why am I presenting to you an additional technical analysis video on the S&P 500 stock chart?

I’m of the attitude that you can not watch enough technical analysis vids. Everyone has their particular technique and approach when evaluating charts and so try and see as many technical analysis videos as you can. One market analyst could focus on what another technical analyst just briefly mentions.

Make note of the frequent threads or main points you see and hear talked about in various market analysis vids. You will discover that when 2 or 3 unique stock analysts talk about the similar thing in a chart, it’s a good idea for you to keep your eye on that distinct formation or price level.

If you are a technical analyst yourself, and I hope you are as my aim is to teach you as much as I can on how to become one, then studying technical analysis vids from various analysts will help you in your own trading and in creating your own content for your website, video, or just to talk about with family and friends.

In this video, Adam takes a swift look at the S&P 500. He draws 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 technical analysts are keeping their eyes on: the 50 day moving average breaking below the 200 day moving average. Given that this video was created on June 30th, we have had a Burial Cross since which implies now is a fantastic time to short this market.

The Trade Triangle score on the S&P 500 is -90 which implies a good downtrend.

If we do a Fibonacci Retracement of the rally 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. These are our three support levels on the way downward. Adam’s opinion is that we are headed to the 50% to 61.8% retracement area between 947 and 883. If Adam is correct, we both stand to make a lot of money on the short side. Keep in mind as well that 70% of all Fibonacci Retracements drop between a 50% and 61.8% retracement area.

To view the stock chart video mentioned above go to Creepy Stock Chart Pattern Video

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