The massive move-up in crude oil on Monday created a new dynamic for this in-the-news market. The move to two-month highs completed one of our favorite major technical formations, the double bottom bounce..
S&P 500 Forecast Video This week could be shaping up to be an extraordinary week in the markets. I strongly recommend that traders everywhere take precautionary measure measures to protect capital.
Adam Hewison made a new video on Crude Oil, discussing cycles today, that fits nicely into the strategy I talked about in my article, “Crude Oil Price Forecast, and the US Dollar Rally.” It shows how the Marketclub Trade Triangles can be used to trade crude oil profitably.
In the power-trader newsletter, we’ve been talking about the move lower in crude oil, and the correlation with the uptick in the U.S. Dollar. Today, crude oil broke below a very important trend line / rising channel, indicating further weakness in the commodity.
Just about every trader I know has been asking for an update on where the S&P 500 is headed. I have been reading my favorite traders blogs, and will combine my forecast with their opinions, which hopefully will give you a pretty clear view of where the markets are headed.
