SP500 Head and Shoulders Pattern

This entry was posted by Tuesday, 2 August, 2011
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It feels as though we have been following this SP500 Head and Shoulders pattern for a very long time now but todays price action is the first time that it has become confirmed as a valid Head and Shoulders pattern by breaking through the neckline.

The updated S&P500 chart shows the measured price target zone triggered by todays break below 1258……

 

Example of the SP500 Head and shoulders PatternSP500 Head and Shoulders Pattern

The target for this move is measure to come in at around 1140 which would give me the 200 points drop that I suggested that we should get when we hit 1370. If the head and shoulders pattern is going to play out then we can expect a reasonably quick drop into the target zone.

This would give long term traders another 100+ S&P 500 points to bank.

Find out how we traded this weeks price action with our preplanned trades and trading forecasts for the week ahead – Kennys Insider Trading Forums Weekly Report



SP500 Technical Analysis Update

This entry was posted by Tuesday, 19 July, 2011

The SP500 Head and shoulders pattern continues to develop…..

Todays updated Elliott Wave analysis charts are now available for viewing in the Traders Day Trading forums.

 

Sp500 Fibonacci Analysis Chart Update

 

Updated Elliott Wave Analysis Charts

 

 

 

SP500 Technical Analysis Charts

This entry was posted by Tuesday, 12 July, 2011
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SP500 Technical Analysis Charts Updated for 12 July 2011

View the previous SP500 Technical Analysis Charts from 7 July 2011

Despite the near vertical ascent of the markets and calling the uber-bearish SP500 Elliott Wave count as being “all but dead in the water”, I became bearish again, and called for a minimum target of a potential 90 point drop on the S&P500 index.

Today, the S&P500 made it as high as 1356.48 where I am now swing short from with a stop above the high. I see a potential of at least 90 points vs a stop loss against the high at 1370 which offers a very good risk vs reward trade from here.

The following day the market promptly dropped a cool 20+ points giving bears a free ride on the trade….

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MarketClub Afternoon Video Update

This entry was posted by Friday, 8 July, 2011
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Adam Hewison co-founder of MarketClub just posted his afternoon update for Friday the 8th of July.

You can watch the video free here 

The video is timely, actionable and best of all…FREE!

Here’s a brief recap:

The US only created 18,000 jobs and unemployment jumped up to 9.2% – how can we say things are getting better when here we are basically two years after the low in the equity markets with unemployment still stubbornly stuck over 9% and probably going back over 10%.

Folks, there is no “Plan B”. This administration has for the past two years declared warfare on business and in particular small businesses the folks who actually create jobs in this country!……

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SP500 Technical Analysis Charts

This entry was posted by Thursday, 7 July, 2011
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Updated SP500 Technical Analysis Charts for 07 July

View the previous SP500 technical analysis charts from 30 June 2011

last time we looked at the S&P  500 chart it was clear that the super bearish count was”all but dead in the water”…..never a truer word written as the market tagged on another 50 points taking it up to near enough 100 points above its low on 16th June.

Over the last few days in the brand new Traders Day Trading Forums,  I have suggested 1345-1360 as the potential target/reversal zone……

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Kennys Insider Trading Forum

This entry was posted by Thursday, 7 July, 2011
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The launch of my new forums a couple of weeks ago has been a great success so a big thank you to all those that have already registered, and a special thanks to all those that have got involved and joined in the conversation so far.

As a result of the popularity of the forums, I have decided to offer my weekly newsletter analysis again as an optional extra. My weekly analysis and trading plan newsletter will in future be published in a ‘members only’ Insider Trading forum, within the main forums.

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