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S&P500 Update: Head & Shoulder Top Emerges (Video)
It’s been said that around 70% of stocks move in the direction of the overall market, so it certainly pays to pay attention to the health of the overall market when considering putting your hard earned bucks to work. For that reason, I’m going to be posting some videos and updates taking a look at not only the health of the overall market, but the oil market as well. After all, the price of oil can often be a catalyst for the price of green stocks as well (particularly the wind and solar plays).
So with that, I present a great video from Adam Hewison of Market Club taking a look at the S&P500 using his trade triangle technology. Key support levels are discussed as well as a strategy for this current market . I happen to agree with the analysis.. if key support is taken out in the coming days we have confirmation of a head and shoulders top and the possibility of a large market drop in the coming weeks. It’s best to be cautious right now.
View the video by clicking the image below and don’t forget to add your email at the top of the video for future updates.
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