The 30-second technical flash chart report on S&P 500

Big Picture Outlook – Don’t Get Me Wrong!

This chart is just to show you what is possible. I am not a perma-bear nor do I want another bear market like this to happen. But knowing what is possible still has to be known. Major market tops are a lengthy process and tends to take several months. If this is the case then it could be a wild and choppy market for the rest of 2013. Do not expect price to just collapse and free fall for 18 months… Dreams like that do not happen. Bear markets must be actively traded because they carry a lot of risk.

The Technical Analyst Conclusion:

This week is do or die for U.S. stocks. We need sellers to step in here and pull stocks down. With the S&P 500 trading at resistance, stocks being overbought on a short term basis and the holiday week behind us, which typically favors higher prices, it is now time for sellers to become active once again.

<< Page 3 of 3
About the Author
Chris Vermeulen

Founder of AlgoTrades Systems., internationally recognized market technical analyst and trader. Chris is also the founder of TheGoldAndOilGuy.com, a financial education and investment newsletter service. He is responsible for market research and trade alerts for of its newsletter publication. He is the author of “Technical Trading Mastery – 7 Steps To Win With Logic” and has  been featured in Futures Magazine, Gold-Eagle, Safe Haven, The Street, Kitco and dozens of other financial websites. 

Comments
comments powered by Disqus