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.
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.
With the Federal Reserve cutting the discount rate 50 basis points to 1%, it remains to be seen if this will loosen up the credit markets. There remains a great deal of mistrust among banks and borrowers at the present time, and until that changes, we would look for the economy to limp along
S&P 500 Trend: Smart Scan Chart Analysis continues negative longer term. Look for this market to remain weak. Strong Downtrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
