Gold - FOREX_XAUUSDO Enter long position on a Daily Green "Trade Triangle" @ 1,196.57
Attn "Perfect Portfolio" followers: SPY - Enter short position on Monthly RED "Trade Triangle @ 104.58
DOW in danger?
The Market Bulls Will Throw In The Towel At These Levels
This month is shaping up to be a strong negative month for the global equity markets. The S&P 500 is down a whopping 11.34% for the month and 3.9% on the year. The DOW is a little better-down only 9.58% for the month and 3.45% for the year.
Despite today’s late covering rally, the bigger picture indicates that we are down overall on the week and the month.
Here are the levels that if, and it is an if, the markets break, then the stock market bulls will throw in the towel.
Here are the key levels of support for the month of May for the major indices:
SP500 - 1044
DOW - 9,835
NASDAQ - 2,100
Let's see how the markets act for the balance of the month. It will be interesting.
Every success,
Adam Hewison
President, INO.com
Co-creator, MarketClub
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Is It Déjà Vu All Over Again for the Dow?
FIRST PUBLISHED ON 2/10/2010
In today's video we examine the crash of 1929 and the similarities to Dow 2010. This video is not meant to scare anyone, but to educate investors and traders of the possibilities that may exist in today's market.
We could be, repeat, could be very close to a tipping point similar to that of 1930 when the Dow had ended a 50% correction to the upside. This years Dow pattern was a 62% correction (see current chart on Dow). I invite you to watch this video and see if it makes sense to you.
Continue reading "Is It Déjà Vu All Over Again for the Dow?"
