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Stock Markets At Ideal Consolidation Point

Stock-Markets / Stock Markets 2010 Sep 11, 2010 - 11:07 AM GMT

By: David_Grandey

Stock-Markets

Best Financial Markets Analysis ArticleWhat we really want to key in on here is that of the 60 minute index charts that have served us so well over the past few years.

One look at the S&P 500 and you see the 78.6% Fibonacci level we talked about over the weekend. Yesterday we tagged it and immediately got a downside reaction off of it.


Today we came back up to test it and thus far and sure enough it moved away from it again. At this point we’ll have to now see IF the index breaks the little blue uptrend to the downside and falls or just consolidates sideways. We still have some uncertainty to deal with here but we’ll trade what we see not think hear or fear and the two short sells we took were just those types of trades in individual issues sporting resistance and potential double tops.

By David Grandey

www.allabouttrends.net

To learn more, sign up for our free newsletter and receive our free report -- "How To Outperform 90% Of Wall Street With Just $500 A Week."

David Grandey is the founder of All About Trends, an email newsletter service revealing stocks in ideal set-ups offering potential significant short-term gains. A successful canslim-based stock market investor for the past 10 years, he has worked for Meriwest Credit Union Silicon Valley Bank, helping to establish brand awareness and credibility through feature editorial coverage in leading national and local news media.

© 2010 Copyright  David Grandey- All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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