The SP 500 index is caught between two trend lines that are the dominant technical indicators right now for this market. If either gives way, it will point the direction of the next major swing.
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15 thoughts on “Important New Video on the S & P 500 index”
Adam looks like you are wrong again on this trend line! The recent strength looks like a retest of the highs.
Hi Adam; thanks for your feedback above.. yes agreed the dissassociaton will eventually occur, these are different times indeed.
Hi Brad. In speaking to gold traders and being one myself; there is a dissassociation between the USD and Gold, regardless of pairs.
AUD/CAD are commodity countries... as oil, precious metals go... so do those currencies go. Let me be prophetic... the CAD dollar will surpass the USD in the coming years. I don't say that will glee I say it with sadness... AUD may do so as well..... gold is and will be the new currency... it can only be held back for so long... so if you have a longer term out look and have a nice big account with lots of margin.. but up some 2012 contracts or longer and sit on them and you'll be rich man/woman... if your patient you'll be rewarded...
To Adam and Roland:
Roland you wrote "So don’t look to that (Dollar) as the mover of gold. S&P up usually means gold down"
This idea that there will be some dis-association between the Greenback and Gold could happen, but it would probably mean that commodity currency pairs, such as AUD/USD or USD/CAD would not trade the same way against the Dollar that other Greenback pairs would...mainly because the Gold trade is much bigger in those countries then most others.
Thanks for the continued professional opinon on the S&P 500. I find it extremely helpful along with my own analysis. I have been doing consistently well on the short (dominate) side of the market right now, and there isn't anything which has showed me any different.
Roland, thank you for your input, I have a target of 800 on the S&P. I will place my trailing stops once it falls below 850.
Good trading everybody!!!
Nice comment. Glad you're using trailing stops.
All the best,
This is the first time this has occurred, but I cannot get the entire video to load. Anybody have this problem? Any pointers? I get about the first 2 minutes of it. Thanks.
Thanks for your feedback.
The video was made the day before the market break and posted at 9am on Wednesday morning which was 30 minutes before the opening.
Looking at the price action you could have sold at the previous days close or even higher which I believe validates the video. It is always best to check our blog before the markets open. Do not wait for an email from us.
Thanks for the video on the S&P500. Pity its sent out a day after it was discussed, i.e. the facts were already known before the video was emailed out. This really kind of invalidates your guys as serious comentators. Sorry.
Thanks for the video. I think we'll see lower prices soon. Perhaps wave 5 of the major trend. It's interesting to note that this rally in the S$P500 retraced about 25% and seems to have tipped it's hand today.
I think we'll see a new low by September.
Phil, thank you for your feedback. Let's see what happens in September.
All the best,
Hi Dave I think I can help you out. Gold won't be going back to 1000 anytime soon. You should be looking at 940/50 area. Gold and the US dollar are lightly associated right now. So don't look to that as the mover of gold. S&P up usually means gold down... gold up usually means S&P down... another thing oil is trading along with the S&P right now... S&P at 500... hmm... going to avoid that and say; S&P at 770 65-70% likely... to many bulls right now... and to much Obama hype. Today's downturn... in my mind was more profit taking...
Oh... for those of you that trade oil... if the front month contract ever goes into the mid 40's level ... be a buyer... oil will eventually dissassociate itself from the S&P....
Thank you for your feedback.
It is very interesting when markets associate themselves with other market and when markets move in a similar direction. Then one day they disassociate themselves from those markets and tend to move in their own special way. I've seen this happen numerous times over the years. Somewhere along the line we are going to see the markets you mentioned in your post disassociate themselves from each other.
All the best,
Adam...hey its Brad. For some reason I was talking to a Bob (work) when I wrote this but it was meant for you:
…just like you, I have been saying that equities have to come down before going back up. So here’s my question. We also closed above 920 on Gold (as per your gold video.) If Gold goes higher towards 1000, that can’t be good for the Greenback. AND if the Greenback declines more, isn’t that bullish for stocks??
Not too long ago you were looking for the S&P to move toward the 5oo area. Is that possibility now void because of the recent gains?
Thank you for your feedback. It is true I was looking for the 500 area as a downside target zone for the S&P 500.
All of the indices are lower for the week as we go into Friday the 15th. I suspect we're going to see further defensive action in all the indices next week and we are looking for a move down in the S&P 500 to the 825 level.
All the best,
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